1. Home
  2. Browse Decisions
  3. F.2d
  4. 414 F.2d
  5. 414 F.2d 822 (1969)
 

CROSBY v. UNITED STATES

No. 26907.

414 F.2d 822 (1969)

L. O. CROSBY, Jr., and Dorothy H. Crosby, et al., Plaintiffs-Appellants, v. UNITED STATES of America, Defendant-Appellee.

United States Court of Appeals Fifth Circuit.

Rehearing Denied and Rehearing Denied August 19, 1969.

Attorney(s) appearing for the Case

Bruce C. Aultman, James Simrall, Jr., Hattiesburg, Miss., Robert S. Newton, Paul M. Newton, Gulfport, Miss., for plaintiffs-appellants, Newton & Newton, Gulfport, Miss., Simrall, Aultman & Pope, Hattiesburg, Miss., of counsel.

Robert E. Hauberg, U. S. Atty., Jackson, Miss., Mitchell Rogovin, Johnnie M. Walters, Asst. Attys. Gen., Tax Div., Lee A. Jackson, Louis M. Kauder, Attys., Dept. of Justice, Washington, D. C., Robert N. Anderson, Frank X. Grossi, Jr., Attys., Dept. of Justice, Washington, D. C., for defendant-appellee, Joseph E. Brown, Jr., Asst. U. S. Atty., of counsel.

Before COLEMAN and SIMPSON, Circuit Judges, and MEHRTENS, District Judge.

Rehearing Denied and Rehearing En Banc Denied August 19, 1969.

SIMPSON, Circuit Judge:

The taxpayers entered into three identical sixty year Timber Purchase Agreements with St. Regis Paper Company in 1960. During the years 1961-1963, the taxpayers reported the income received from St. Regis pursuant to these agreements as capital gains. The Commissioner held that the income was ordinary and assessed additional taxes which the taxpayers paid. Following denial...

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