JAMES C. WILSON, District Judge.
This is a very interesting tax suit, involving whether certain income received by plaintiffs was ordinary income or the proceeds of the sale of a capital asset.
In each of 1939 and 1940, plaintiffs E. A. Landreth and wife received, as community income, from Phillips Petroleum Corporation as their share of Phillips payments under an agreement of May 2, 1939, $12,780. Plaintiffs, in the returns, considered these sums as gain...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.