Leeds and Lippincott Company v. United States
This text of 276 F.2d 927 (Leeds and Lippincott Company v. United States) 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.
Opinion
Judge Madden in the District Court held that the transfer of properties and lease back arrangement, here involved, between the taxpayer and the insurance company, was in substance a mortgage, not a sale and therefore taxpayer was not entitled to receive credit for a capital loss.
Under the particular facts and the law of the case (see Helvering v. F. & R. Lazarus & Co., 1939, 308 U.S. 252, 60 S.Ct. 209, 84 L.Ed. 226) we must agree.
The judgment of the District Court will be affirmed.
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Cite This Page — Counsel Stack
276 F.2d 927, 5 A.F.T.R.2d (RIA) 1175, 1960 U.S. App. LEXIS 4955, Counsel Stack Legal Research, https://law.counselstack.com/opinion/leeds-and-lippincott-company-v-united-states-ca3-1960.