REDWING CARRIERS, INC. v. TOMLINSON

No. 24785.

399 F.2d 652 (1968)

REDWING CARRIERS, INC., and Rockana Carriers, Inc., by Redwing Carriers, Inc., Appellants, v. Laurie W. TOMLINSON, former Director of Internal Revenue for the District of Florida, Appellee.

United States Court of Appeals Fifth Circuit.

August 22, 1968.


Attorney(s) appearing for the Case

Michael G. Emmanuel, Norman H. Lipoff, Thomas D. Aitken, Carlton, Fields, Ward, Emmanuel, Smith & Cutler, Tampa, Fla., for appellants.

Mitchell Rogovin, Asst. Atty. Gen., Lee A. Jackson, Harry Marselli, Robert N. Anderson, Robert H. Solomon, Issie L. Jenkins, Bennet N. Hollander, Attys., Dept. of Justice, Washington, D. C., Edward F. Boardman, U. S. Atty., E. J. Salcines, Asst. U. S. Atty., Tampa, Fla., for appellee.

Before BELL, GOLDBERG and DYER, Circuit Judges.


GOLDBERG, Circuit Judge:

This case involves another attempt by a taxpayer to insulate himself from the incidence of taxation by means of paper armor. The question presented is whether a taxpayer may shape what is essentially an integrated purchase and trade-in transaction of new and used trucks into two separate transactions in order to recognize an immediate gain at capital gains rates and concomitantly to take a larger depreciation deduction from ordinary income...

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