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REALTY LOAN CORPORATION v. C. I. R.

Nos. 71-1194, 71-1346.

478 F.2d 1049 (1973)

REALTY LOAN CORPORATION, Petitioner-Appellee, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellant. REALTY LOAN CORPORATION, Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Ninth Circuit.

April 19, 1973.

Attorney(s) appearing for the Case

Charles P. Duffy (argued) Duffy, Stout, Georgeson & Dahl, Portland, Or., for Realty Loan Corp.

Ernest J. Brown (argued), Johnnie M. Walters, Asst. Atty. Gen., Meyer Rothwacks, Tax Div., Dept. of Justice, K. Martin Worthy, IRS, Washington, D. C., for C.I.R.

Before HUFSTEDLER and GOODWIN, Circuit Judges, and THOMPSON, District Judge.

ALFRED T. GOODWIN, Circuit Judge:

The Commissioner of Internal Revenue appeals from a Tax Court decision permitting Realty Loan Corporation, an accrual-basis taxpayer, to report the income from the sale of a business on the installment basis. 54 T.C. 1083 (1970).

Realty Loan originally sought to treat the proceeds of the sale as capital gain, and has filed a protective appeal from the Tax Court decision denying capital-gain...

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