Armstrong v. Commissioner

Third Circuit

Armstrong v. Commissioner

162 F.2d 199, 35 A.F.T.R. (P-H) 1442, 1947 U.S. App. LEXIS 2895

CourtCourt of Appeals for the Third Circuit

DecidedMay 14, 1947

DocketNos. 9280-9285

StatusPublished

This text of 162 F.2d 199 (Armstrong v. Commissioner) is published on Counsel Stack Legal Research, covering Court of Appeals for the Third Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Armstrong v. Commissioner, 162 F.2d 199, 35 A.F.T.R. (P-H) 1442, 1947 U.S. App. LEXIS 2895 (3d Cir. 1947).

Pincite

Opinion

PER CURIAM.

The only question involved in fhe.se cases is the date upon which the taxpayers’ interest was acquired. If the date is that urged by the taxpayers, their profit from the transaction involved is taxable upon the basis of long term capital gain. If the Commissioner’s date is accepted, the entire gain is taxable. The Tax Court, upon consideration of all the facts and circumstances, has concluded that the Commissioner’s contention is correct. The inferences to be drawn are for the Tax Court, and we are not to substitute our judgment for theirs. Wc cannot say that the conclusion that Court reached was a clear error of law. The decisions of the Tax Court are, therefore,

Affirmed.

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PER CURIAM.

The only question involved in fhe.se cases is the date upon which the taxpayers’ interest was acquired. If the date is that urged by the taxpayers, their profit from the transaction involved is taxable upon the basis of long term capital gain. If the Commissioner’s date is accepted, the entire gain is taxable. The Tax Court, upon consideration of all the facts and circumstances, has concluded that the Commissioner’s contention is correct. The inferences to be drawn are for the Tax Court, and we are not to substitute our judgment for theirs. Wc cannot say that the conclusion that Court reached was a clear error of law. The decisions of the Tax Court are, therefore,

Affirmed.

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Bluebook (online)

162 F.2d 199, 35 A.F.T.R. (P-H) 1442, 1947 U.S. App. LEXIS 2895, Counsel Stack Legal Research, https://law.counselstack.com/opinion/armstrong-v-commissioner-ca3-1947.