[Download] "Grandview Mines v. Commissioner Internal" by United States Court of Appeals Ninth Circuit. ~ eBook PDF Kindle ePub Free
eBook details
- Title: Grandview Mines v. Commissioner Internal
- Author : United States Court of Appeals Ninth Circuit.
- Release Date : January 16, 1960
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 64 KB
Description
Kuckenberg Construction Company, an Oregon corporation, pursuant to a plan of complete liquidation sold and assigned three construction contracts, the income from which had been fully earned, to an independent purchaser for $327,000.00. The company was on the cash method of accounting. The question presented by this review is whether, under Γ§ 337(a) of the Internal Revenue Code of 1954, 26 U.S.C.A. Γ§ 337(a), nonrecognition attached to the proceeds of this sale. The tax court held for the taxpayers and the commissioner has petitioned this court for review. We here hold that the proceeds are taxable.