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No. 8890741
United States Court of Appeals for the Ninth Circuit
Davis v. Commissioner
No. 8890741 · Decided March 17, 1967
No. 8890741·Ninth Circuit · 1967·
FlawFinder last updated this page Apr. 2, 2026
Case Details
Court
United States Court of Appeals for the Ninth Circuit
Decided
March 17, 1967
Citation
No. 8890741
Disposition
See opinion text.
Full Opinion
PER CURIAM. The decision of the Tax Court, T.C.Memo 1965-30, is unofficially reported at 24 T.C.M. 157 . The taxpayers attack only that part of the decision which relates to the year 1953 and to sale of a lemon crop that was on the trees at the time that they purchased the property involved. The Tax Court determined that the cost of acquisition of the assets, other than certain “quick assets” as to which the taxpayers’ allocation is not questioned, was less than their fair market value. It reallocated cost, between the lemon crop and other assets, based upon their respective percentages of total fair market value, and determined that a profit was realized on the sale of the lemon crop. We are of the opinion that the Tax Court’s findings in relation to this question are sustained by the evidence and that its disposition of the question is proper, for the reasons stated by it. Affirmed.
Plain English Summary
The decision of the Tax Court, T.C.Memo 1965-30, is unofficially reported at 24 T.C.M.
Key Points
01The decision of the Tax Court, T.C.Memo 1965-30, is unofficially reported at 24 T.C.M.
02The taxpayers attack only that part of the decision which relates to the year 1953 and to sale of a lemon crop that was on the trees at the time that they purchased the property involved.
03The Tax Court determined that the cost of acquisition of the assets, other than certain “quick assets” as to which the taxpayers’ allocation is not questioned, was less than their fair market value.
04It reallocated cost, between the lemon crop and other assets, based upon their respective percentages of total fair market value, and determined that a profit was realized on the sale of the lemon crop.
Frequently Asked Questions
The decision of the Tax Court, T.C.Memo 1965-30, is unofficially reported at 24 T.C.M.
FlawCheck shows no negative treatment for Davis v. Commissioner in the current circuit citation data.
This case was decided on March 17, 1967.
Use the citation No. 8890741 and verify it against the official reporter before filing.