...price rise. P. 51. (c) The capital-asset provision of § 117 is to be narrowly construed. P. 52. (d) Congress intended that profits and losses arising...ordinary income or loss rather than capital gain or loss. P. 52. (e) The Treasury ruling, GCM 17322, that hedging transactions were essentially to be regarded...

...applied as to defeat rather than further the purpose of Congress. Burnet v. Harmel, 287 US 103, 108. Congress intended that profits and losses arising...ordinary income or loss rather than capital gain or loss. The preferential treatment provided by § 117 applies to transactions in property which are not the...

...applied as to defeat rather than further the purpose of Congress. Burnet v. Harmel, 287 US 103, 108. Congress intended that profits and losses arising...ordinary income or loss rather than capital gain or loss. The preferential treatment provided by § 117 applies to transactions in property which are not the...

...applied as to defeat rather than further the purpose of Congress. Burnet v. Harmel, 287 US 103, 108. Congress intended that profits and losses arising...ordinary income or loss rather than capital gain or loss. The preferential treatment provided by [sec. 1221] applies to transactions in property which are not...

...rather than further the purpose of Congress. Burnet v. Harmel, 287 US 103, 108. Congress intended thai profits and losses arising from the everyday operation...ordinary income or loss rather than capital gain or loss. The preferential treatment provided by [sec. 1221] applies to transactions in property which are not...

...1221] must not be so broadly applied as to defeat rather than further the purpose of Congress. » » * Congress intended that profits and losses arising...ordinary income or loss rather than capital gain or loss. The preferential treatment provided by section 1 1 7 applied to transactions in property which are...

...manufacturing operations against a price increase in com. The Supreme Court held that since Congress intended profits and losses arising from the everyday operation...ordinary income or loss rather than capital gain or loss, any gains or losses the taxpayer sustained in its futures transactions were ordinary gains or losses....

...asset. In Corn Products Refining Co. v. Commissioner, 350 US 46 (1955), 1955-2 CB 511, the Court said on any exemption contained in section 552 of this title to withhold from an individual any reco should be considered as ordinary income or loss rather than capital gain or loss. Thereupon, the Court...

...hands, relying on Corn Products Refining Co. v. Commissioner, 350 US 46 (1955), and that Simarloo's gain on the sale of Dairy Farm and Hong Kong Land...Newspapers, Inc. v. United States, 157 a. Cl. 886, 303 F.2d 916, 921 (1962): if securities are purchased by a taxpayer as an integral and necessary act in the...

...supply of corn inventory for the taxpayer's business did not qualify for capital gain treatment because, "Congress intended that profits and losses arising...loss rather than capital gain or loss." 350 US at 52. Respondent does not contend, herein, that petitioners' contract rights fall within the limitation which...