Legal Opinion
Scully v. United States
Court of Appeals for the Seventh Circuit
Decided February 18, 1988No. Nos. 86-1657 & 87-1100PublishedCited by 8 opinions
1Opinion of the Court
RIPPLE, Circuit Judge.
Michael J. Scully and Peter D. Scully, as trustees of nine trusts established for members of the Scully family, brought this action against the United States seeking a refund of $274,583 in income taxes paid by the trusts. The trustees argued that the trusts were entitled to the refund because the trusts had sold 980 acres of real estate at a loss of more than $500 per acre. The district court granted the government’s motion for summary judgment on the ground that section 267(b)(5) of the Internal Revenue Code of 1954 (Code) disallowed the loss. The trustees appealed.…
2Cases cited18 opinions
- Anderson v. Liberty Lobby, Inc.Supreme Court of the United States · 1986
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Burnet v. HarmelSupreme Court of the United States · 1932
- Higgins v. SmithSupreme Court of the United States · 1940
- United States v. New York Telephone Co.Supreme Court of the United States · 1977
13 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Claude P. Brown and Grace W. Brown v. United StatesCourt of Appeals for the Seventh Circuit · 1992
- Federal Nat'l Mortgage Ass'n v. CommissionerUnited States Tax Court · 1993
- San Antonio Savings Association and Subsidiaries v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1989
- Curtis Inv. Co. v. Comm'rCourt of Appeals for the Eleventh Circuit · 2018
- Scully v. United StatesCourt of Appeals for the Seventh Circuit · 1988
3 more not listed; retrieve them via the Exa API.