UNITED STATES FOR THE USE AND BENEFIT OF F. B. SPEARS & SONS

v.

ARTHUR STORM CO. ET AL.

Citator

Cited By

• United States v. Wilson, 798 F.2d 509 (1st Cir. 1986)
  …l basis for Wilson’s theory. Finally, the cases relied on by appellant, United States v. Garber, 607 F. 2d 92 (5th Cir.1979) (en banc) and Virginia Iron Coal & Coke Co. v. Commissioner of Internal Revenue, 99 F. 2d 919 (4th Cir.1938), cert. denied, 307 U.S. 630, 59 S.Ct. 833, 83 L.Ed. 1513 (1939), are inapposite. Garber did involve a reversal based in part on the district court’s exclusion of a defendant’s expert testimony; however, unlike the present case, it was clear that the facts underlying the assump…
• Warren Serv. Corp. v. Commissioner of Internal Revenue, 110 F.2d 723 (2d Cir. 1940)
  …that year, since the lessor was under obligation to repay it in 1941, unless in the meantime it should be appropriated to make good a default by the lessee. See Virginia Iron, Coal & Coke Co. v. Commissioner, 4 Cir., 99 F. 2d 919, certiorari denied 307 U.S. 630, 59 S.Ct. 833, 83 L.Ed. 1513. The Board held that the cancellation of that, obligation was income to the taxpayer in 1933. Assuming arguendo that this be true, the taxpayer contends that it sustained a loss by reason of the cancellation of the lease…
• Saviano v. Commissioner OF Internal Revenue, 765 F.2d 643 (7th Cir. 1985)
  …lassic definition of an option it should be treated as an “open transaction,” citing, Burnet v. Logan, 283 U. S. 404, 51 S.Ct. 550, 75 L.Ed. 1143 (1931) and Virginia Iron, Coal & Coke Company v. Commissioner, 99 F. 2d 919 (4th Cir. 1938), cert. den. 307 U.S. 630, 59 S.Ct. 833, 83 L.Ed. 1513 (1939). He contends that recognition of the income from the sale of the “gold option” must be deferred because the type and amount of the tax on it can only be determined by future events. Under this rationale, if Savian…