Commissioner v. Lincoln

Sixth Circuit

Commissioner v. Lincoln

242 F.2d 748

CourtCourt of Appeals for the Sixth Circuit

DecidedMarch 1, 1957

DocketNos. 12935-12937

StatusPublished

This text of 242 F.2d 748 (Commissioner v. Lincoln) is published on Counsel Stack Legal Research, covering Court of Appeals for the Sixth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Commissioner v. Lincoln, 242 F.2d 748 (6th Cir. 1957).

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Opinion

PER CURIAM.

The issue in these cases is whether certain transfers of stock made in connection with the financial rehabilitation of a Florida hotel corporation were sales made indirectly between members of a family within the meaning of section 24(b) (1) (A) of the Internal Revenue Code of 1939, 26 U.S.C.A. § 24(b) (1) (A), so as to preclude deduction of losses from the sales.

The Tax Court concluded that the principles announced in McWilliams v. Commissioner, 331 U.S. 694, 67 S.Ct. 1477, 91 L.Ed. 1750 were inapplicable to the facts of this case, and that “ * * * there were no sales, directly or indirectly, by any member of the Lincoln family to David Lincoln.” 24 T.C. 669, 699. We agree with the Tax Court’s findings and conclusions for the reasons stated in Judge Harron’s opinion.

The decisions of the Tax Court are therefore affirmed.

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PER CURIAM.

The issue in these cases is whether certain transfers of stock made in connection with the financial rehabilitation of a Florida hotel corporation were sales made indirectly between members of a family within the meaning of section 24(b) (1) (A) of the Internal Revenue Code of 1939, 26 U.S.C.A. § 24(b) (1) (A), so as to preclude deduction of losses from the sales.

The Tax Court concluded that the principles announced in McWilliams v. Commissioner, 331 U.S. 694, 67 S.Ct. 1477, 91 L.Ed. 1750 were inapplicable to the facts of this case, and that “ * * * there were no sales, directly or indirectly, by any member of the Lincoln family to David Lincoln.” 24 T.C. 669, 699. We agree with the Tax Court’s findings and conclusions for the reasons stated in Judge Harron’s opinion.

The decisions of the Tax Court are therefore affirmed.

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242 F.2d 748, Counsel Stack Legal Research, https://law.counselstack.com/opinion/commissioner-v-lincoln-ca6-1957.

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