Carborundum Co. v. Commissioner
United States Tax Court
Held, petitioner realized long-term capital gain on the sales of currency contracts in 1968.
1Opinion of the Court
The Carborundum Company, a Delaware Corporation, Petitioner v. Commissioner of Internal Revenue, Respondent
Carborundum Co. v. Commissioner
Docket No. 2338-75 1
United States Tax Court
74 T.C. 730; 1980 U.S. Tax Ct. LEXIS 101;
July 21, 1980, Filed
Decision will be entered under Rule 155.
Held, petitioner realized long-term capital gain on the sales of currency contracts in 1968.
Dennis I. Meyer and C. David Swenson, for the petitioner.
Sommers T. Brown and Raymond W. McKee, for the respondent.
Wiles, Judge.
WILES
Respondent determined a deficiency of $ 229,049 in petitioner's 1968 Federal income tax. The…
2Cases cited17 opinions
- Universal Battery Co. v. United States and Four Other CasesSupreme Court of the United States · 1930
- Edwin W. Hudspeth and Maxine G. Hudspeth v. United StatesCourt of Appeals for the Eighth Circuit · 1972
- Commissioner of Internal Revenue v. Percy W. Phillips and Betty R. Phillips (Husband and Wife)Court of Appeals for the Fourth Circuit · 1960
- John P. Kinsey and Edith B. Kinsey v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1973
- Hobby v. CommissionerUnited States Tax Court · 1943
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