United States Third Circuit

Under the Claim of Right Doctrine, plaintiff was required to recognize proceeds from the sale of a furnace in the year it received those proceeds. Plaintiff did not adequately prove its entitlement to deduct costs associated with other furnaces sold.

Appellate Information

• Argued 07/31/2003
• Decided 12/08/2003
• Published 12/08/2003

Judges

• Before SCIRICA, Chief Judge, RENDELL and AMBRO, Circuit Judges.

Court

• United States Third Circuit

Counsel

• For Appellant:
  
• Ronald L. Glick, (Argued), Stevens & Lee, Cherry Hill, N.J., for Appellant.


• For Appellees:
  
• Eileen J. O'Connor, Assistant Attorney General, Gilbert S. Rothenberg, Francesca Ugolini, (Argued), Department of Justice, Tax Division, Washington, D.C., for Appellee.