Legal Opinion
United States v. Murphy J. Foster and Olive R. Foster
Court of Appeals for the Fifth Circuit
Decided November 14, 1963No. 20370_1PublishedCited by 8 opinions
1Opinion of the Court
BENJAMIN C. DAWKINS, Jr., District Judge.
This appeal tests the correctness of a judgment by the trial court wherein appellees prevailed in a tax refund suit. The question for decision is whether, in a case involving facts as here presented, proceeds from the sale of an oil payment * are to be treated as ordinary income or capital gain. Both the oil payment and a royalty interest were reserved' by the taxpayer (See fn. 1) when he executed a mineral lease, but only the oil’ payment subsequently was sold.
Murphy J. and Olive R. Foster brought this action for refund of income taxes and interest…
2Cases cited10 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Commissioner v. Gillette Motor Transport, Inc.Supreme Court of the United States · 1960
- Gibson v. ThompsonSupreme Court of the United States · 1957
5 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Day v. CommissionerUnited States Tax Court · 1970
- Donnell v. CommissionerUnited States Tax Court · 1967
- Richard M. And Brenda R. Yates v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1991
- Earl R. Wiseman, Director of Internal Revenue for the District of Oklahoma v. Ralph E. Barby and Marie Barby, Husband and WifeCourt of Appeals for the Tenth Circuit · 1967
- Yates v. CommissionerUnited States Tax Court · 1989
3 more not listed; retrieve them via the Exa API.