Legal Opinion
Marc D. Leh and L. Waive Leh v. Commissioner of Internal Revenue, David E. Brown and Christobel H. Brown v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided October 17, 1958No. 15797PublishedCited by 50 opinions
1Opinion of the Court
BARNES, Circuit Judge.
These are petitions to review two decisions of the Tax Court. Int. Rev. Code of 1954, § 7482, 26 U.S.C.A. § 7482. The sole question presented is whether the Tax Court was correct in refusing to find that the transaction herein involved constituted a “sale or exchange” of property within the meaning of section 117 (a) (4) and (j) of the Internal Revenue Code of 1939, 26 U.S.C.A. § 117(a) (4), (j). If there was such a “sale or exchange” then taxpayers were entitled to treat the consideration received by them for the cancellation of a contract as capital gain 1 rather than…
2Cases cited23 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. HorstSupreme Court of the United States · 1940
- Dobson v. CommissionerSupreme Court of the United States · 1944
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Harrison v. SchaffnerSupreme Court of the United States · 1941
18 more not listed; retrieve them via the Exa API.
3Cited by50 opinions
- Commissioner of Internal Revenue v. José FerrerCourt of Appeals for the Second Circuit · 1962
- Luna v. CommissionerUnited States Tax Court · 1964
- Nat Holt and Blanche Holt, Husband and Wife v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1962
- Bisbee-Baldwin Corporation v. Laurie E. Tomlinson, District Director of Internal Revenue for the District of FloridaCourt of Appeals for the Fifth Circuit · 1963
- Estate of Scharf v. CommissionerUnited States Tax Court · 1962
45 more not listed; retrieve them via the Exa API.