ESTATE OF JOHN F. NUTT, DECEASED, ET AL., PETITIONERS AND APPELLANTS,
v.
COMMISSIONER OF INTERNAL REVENUE, RESPONDENT AND APPELLEE; EILEEN M. NUTT, PETITIONER AND APPELLANT, V. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT AND APPELLEE
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The court held that Eileen Nutt's ownership of shares created an irrevocable agency coupled with an interest, preventing John Nutt from reacquiring the land and thus allowing for capital gains treatment.
The Nutts sold land to Tierra Prieta and sought capital gains treatment on unharvested crops. The Tax Court found the stock in Tierra Prieta was commu…
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Before: CHAMBERS, POPE and JERTBERG, Circuit Judges.
PER CURIAM:
The cases are remanded to the United States Tax Court with the suggestion it vacate its findings of fact, opinion and decision and permit either party to offer in evidence any written or other appropriate evidence concerning the nature of the bank account or accounts in the First National Bank of Arizona at Eloy on which were drawn the two checks for $7,500 each (mentioned in our opinion, 351 F. 2d 452 at 453). Thereafter, new findings, opinion and decision should be entered.
On the face of the present record, a question of Arizona community property law is presented. This may or may not be vitally affected by the nature of the bank account or accounts upon which the checks were drawn.
It well may be that neither party deserves a second chance to improve the present record, but we hold that we have inherent power, in our discretion, when we believe in a civil ease that the record is incomplete on a vital point to remand the case to find out the true facts.
Cases With Similar Vibessemantic neighbors from the corpus
Citator
Authorities Cited
- Est. of Delano T. Starr v. Commissioner OF Internal Revenue, 274 F.2d 294 (9th Cir. 1959)
- Nutt v. Commissioner OF Internal Revenue, 351 F.2d 452 (9th Cir. 1965)