1. Home
  2. Browse Decisions
  3. F.2d
  4. 288 F.2d
  5. 288 F.2d 812 (1961)
 

KENT MANUFACTURING CORPORATION v. C. I. R.

No. 8105.

288 F.2d 812 (1961)

KENT MANUFACTURING CORPORATION, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fourth Circuit.

Decided March 15, 1961.

Attorney(s) appearing for the Case

Converse Murdoch, Philadelphia, Pa., for petitioner.

Sharon L. King, Atty., Dept. of Justice, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., and Lee A. Jackson and A. F. Prescott, Attys., Dept. of Justice, Washington, D. C., on brief), for respondent.

Before SOPER and HAYNSWORTH, Circuit Judges, and LEWIS, District Judge.

HAYNSWORTH, Circuit Judge.

The validity of asserted deficiencies of income taxes for the taxpayer's fiscal years 1953 and 1954 depend upon the recognition of gain, realized in September 1954 but in fiscal year 1955, upon an involuntary conversion of capital assets. The Commissioner recognized the gain, and reduced the amount of the loss-carryback, accordingly. The Tax Court sustained his view.1 We disagree.

On July 16, 1954, an...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases