Tom Linebery and Evelyn Linebery v. United States

Fifth Circuit

Tom Linebery and Evelyn Linebery v. United States

512 F.2d 510

CourtCourt of Appeals for the Fifth Circuit

DecidedJune 30, 1975

Docket74-4063

StatusPublished

Cited by9 cases

This text of 512 F.2d 510 (Tom Linebery and Evelyn Linebery v. United States) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Tom Linebery and Evelyn Linebery v. United States, 512 F.2d 510 (5th Cir. 1975).

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PER CURIAM:

This suit for refund of income taxes poses the issue of whether the grant of certain mineral rights and easements by the taxpayer sellers was a sale entitling the taxpayers to capital gains treatment, or whether the conveyances were in the nature of mineral leases, the payment therefore being taxable as ordinary income. The district court granted summary judgment for the Government on the ground that the underlying transaction, including the documents of conveyance, was in all material respects identical to the one in Vest v. Commissioner of Internal Revenue, 481 F.2d 238 (5th Cir.), cert. denied, 414 U.S. 1092, 94 S.Ct. 722, 38 L.Ed.2d 549 (1973).

On this appeal the taxpayers recognize the controlling nature of Vest, but urge us to overrule it, asserting that it is a “genetic sport” which needs correcting. There is a firm policy in this Circuit that one panel will not overrule a decision of another panel. See, e. g., United States v. Lewis, 475 F.2d 571, 574 (5th Cir. 1972); United States v. Bailey, 468 F.2d 652, 669 (1972), aff’d, 480 F.2d 518 (5th Cir. 1973) (en banc); United States v. Hereden, 464 F.2d 611, 613 (5th Cir.), cert. denied, 409 U.S. 1028, 93 S.Ct. 472, 34 L.Ed.2d 322 (1972); Manning v. M/V “Sea Road,” 417 F.2d 603, 610-611 n. 10 (5th Cir. 1969). The decision in Vest being dispositive of all issues presented on this appeal, it is unnecessary for us to reconsider the merits of that holding.

Affirmed.

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PER CURIAM:

This suit for refund of income taxes poses the issue of whether the grant of certain mineral rights and easements by the taxpayer sellers was a sale entitling the taxpayers to capital gains treatment, or whether the conveyances were in the nature of mineral leases, the payment therefore being taxable as ordinary income. The district court granted summary judgment for the Government on the ground that the underlying transaction, including the documents of conveyance, was in all material respects identical to the one in Vest v. Commissioner of Internal Revenue, 481 F.2d 238 (5th Cir.), cert. denied, 414 U.S. 1092, 94 S.Ct. 722, 38 L.Ed.2d 549 (1973).

On this appeal the taxpayers recognize the controlling nature of Vest, but urge us to overrule it, asserting that it is a “genetic sport” which needs correcting. There is a firm policy in this Circuit that one panel will not overrule a decision of another panel. See, e. g., United States v. Lewis, 475 F.2d 571, 574 (5th Cir. 1972); United States v. Bailey, 468 F.2d 652, 669 (1972), aff’d, 480 F.2d 518 (5th Cir. 1973) (en banc); United States v. Hereden, 464 F.2d 611, 613 (5th Cir.), cert. denied, 409 U.S. 1028, 93 S.Ct. 472, 34 L.Ed.2d 322 (1972); Manning v. M/V “Sea Road,” 417 F.2d 603, 610-611 n. 10 (5th Cir. 1969). The decision in Vest being dispositive of all issues presented on this appeal, it is unnecessary for us to reconsider the merits of that holding.

Affirmed.

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