Smith v. COMMISSIONER OF INTERNAL REVENUE
| Decision Date | 24 November 1969 |
| Docket Number | No. 23186.,23186. |
| Citation | 418 F.2d 573 |
| Parties | Harold S. SMITH and Lois M. Smith, Raymond A. Smith and Olga Smith, Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Appellee. |
| Court | U.S. Court of Appeals — Ninth Circuit |
Valentine Brookes (argued), Paul E. Anderson and Richard A. Wilson, of Kent, Brookes & Anderson, San Francisco, Cal., for appellants.
Benjamin Parker (argued), Johnnie M. Walters, Asst. Atty. Gen., Lee A. Jackson, William A. Friedlander, David English Carmack, Attys., Dept. of Justice, Washington, D. C., for appellee.
Before JERTBERG, KOELSCH and KILKENNY, Circuit Judges.
The matter is before the court on Taxpayers' petition to review decisions of the Tax Court of the United States, determining deficiencies in income tax against petitioners for the calendar year 1957. The Tax Court's Findings of Fact and Opinion appear in 50 T.C. 273 (1968).
We conclude that the Findings are supported by the evidence, that the rationale of the Tax Court appearing in the opinion is correct, and that the decision is in accordance with the law.
Affirmed.
To continue reading
Request your trial
-
Handelman v. C. I. R.
...retained by seller when purchaser withdrew treated as ordinary income); Smith v. Commissioner, 50 T.C. 273 (1968), aff'd, 418 F.2d 573 (9th Cir. 1969) (per curiam) (deposit on contract to purchase stock treated as ordinary income to seller when purchase not completed); Binns v. United State......
-
Handelman v. Commissioner
...sale but merely the payment of damages. See Harold S. Smith Dec. 28,953, 50 T.C. 273 (1968), affirmed per curiam 70-1 USTC ¶ 9110 418 F. 2d 573 (C.A. 9, 1969), and cases there cited; Meyer Mittleman Dec. 30,746, 56 T.C. 171 On the other hand, where a sale has been completed and subsequently......
-
Graphic Press, Inc. v. Comm'r of Internal Revenue, Docket No. 2283-71.
...the sale of a capital asset. Binns v. United States, 385 F.2d 159 (C.A. 6, 1967); Harold S. Smith, 50 t.c. 273 (1968), affirmed per curiam 418 F.2d 573 (C.A. 9, 1969); Gerald Melone, 45 T.C. 501 (1966); Ralph A. Boatman, 32 T.C. 1188 (1959); A. M. Johnson, 32 B.T.A. 156 (1935). Although in ......
-
Usher v. Commissioner, Docket No. 141-79
...32 T.C. 1188, 1191 (1959). See also Smith v. Commissioner Dec. 28,953, 50 T.C. 273 (1968), affd. per curiam, 70-1 USTC ¶ 9110 418 F. 2d 573 (9th Cir. 1969); Binns v. United States 67-2 USTC ¶ 9720, 385 F. 2d 159 (6th Cir. By the end of 1973, with the Hudson Option about to terminate, Owens ......