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  • Rufus F. and Marguerite H. Turner v. Commissioner of Internal Revenue, 343 F.2d 150, 4th Cir. (1965)

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    The document is a court case from the United States Court of Appeals for the Fourth Circuit from March 8, 1965 regarding the valuation of stock shares received by Rufus and Marguerite Turner in 1957 for tax purposes. The court had previously remanded the case to the Tax Court to determine the value of the stock. The Tax Court valued the shares at $50 per share. The Fourth Circuit affirmed the Tax Court's valuation, finding it to be well supported and not clearly erroneous based on their review of the record.

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    Filed: 1965-03-08 Precedential Status: Precedential Citations: 343 F.2d 150 Docket: 9769

    Original Title

    Rufus F. And Marguerite H. Turner v. Commissioner of Internal Revenue, 343 F.2d 150, 4th Cir. (1965)

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    The document is a court case from the United States Court of Appeals for the Fourth Circuit from March 8, 1965 regarding the valuation of stock shares received by Rufus and Marguerite Turner in 1957 for tax purposes. The court had previously remanded the case to the Tax Court to determine the value of the stock. The Tax Court valued the shares at $50 per share. The Fourth Circuit affirmed the Tax Court's valuation, finding it to be well supported and not clearly erroneous based on their review of the record.

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    Public Domain
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    7 views1 page

    Rufus F. and Marguerite H. Turner v. Commissioner of Internal Revenue, 343 F.2d 150, 4th Cir. (1965)

    Uploaded by

    Scribd Government Docs
    The document is a court case from the United States Court of Appeals for the Fourth Circuit from March 8, 1965 regarding the valuation of stock shares received by Rufus and Marguerite Turner in 1957 for tax purposes. The court had previously remanded the case to the Tax Court to determine the value of the stock. The Tax Court valued the shares at $50 per share. The Fourth Circuit affirmed the Tax Court's valuation, finding it to be well supported and not clearly erroneous based on their review of the record.

    Copyright:

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    of 1

    343 F.

    2d 150

    Rufus F. and Marguerite H. TURNER, Petitioners,


    v.
    COMMISSIONER OF INTERNAL REVENUE, Respondent.
    No. 9769.

    United States Court of Appeals Fourth Circuit.


    Argued March 4, 1965.
    Decided March 8, 1965.

    Fortescue W. Hopkins, Roanoke, Va., for petitioners.


    Howard J. Feldman, Atty., Dept. of Justice (Louis F. Oberdorfer, Asst.
    Atty. Gen., Lee A. Jackson and I. Henry Kutz, Attys., Dept. of Justice, on
    brief), for respondent.
    Before HAYNSWORTH, Chief Judge, and SOBELOFF and BRYAN,
    Circuit Judges.
    PER CURIAM.

    This case was here in 1962 (4 Cir., 303 F.2d 94) and remanded to the Tax Court
    to ascertain the value of certain shares of stock of Cash Produce Company,
    received by the taxpayer in 1957. The present appeal is from the Tax Court's
    determination that the stock was worth $50.00 per share. Our review of the
    record and a consideration of the briefs and oral arguments convince us that this
    determination is well supported and should not be disturbed, for we are far
    from prepared to say that it is clearly erroneous.

    Affirmed.

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