A.M. And Antoinette B. Jacob v. Charles A. Donnelly, Formerly Collector of Internal Revenue at New Orleans

Fifth Circuit

A.M. And Antoinette B. Jacob v. Charles A. Donnelly, Formerly Collector of Internal Revenue at New Orleans

374 F.2d 503, 19 A.F.T.R.2d (RIA) 1075, 1967 U.S. App. LEXIS 7052

Court of Appeals for the Fifth Circuit·Decided March 20, 1967·No. 22660_1·Published

Opinion

PER CURIAM:

Taxpayer contends that a distribution received by him January 1, 1950, from an employees’ pension trust fund should be taxed at long term capital gains rates. To succeed in this contention, taxpayer has the burden to establish that the distribution was paid “on account of the employee’s separation from the service” of his employer. Section 165 (b), Internal Revenue Code of 1939, 26 U.S.C. Sec. 165(b) (1952 ed.). The district court sitting without a jury found as a fact that the distribution was paid by reason of a ruling by the Commissioner that the pension plan no longer qualified for exemption and not by reason of the employee’s separation from the service ; accordingly, taxpayer’s claim for refund was denied. 218 F.Supp. 845 (E.D. La.1963). After a careful review of the record, we are convinced such a finding is not clearly erroneous. Fed.R.Civ.P. 52(a). The judgment is affirmed.

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PER CURIAM:

Taxpayer contends that a distribution received by him January 1, 1950, from an employees’ pension trust fund should be taxed at long term capital gains rates. To succeed in this contention, taxpayer has the burden to establish that the distribution was paid “on account of the employee’s separation from the service” of his employer. Section 165 (b), Internal Revenue Code of 1939, 26 U.S.C. Sec. 165(b) (1952 ed.). The district court sitting without a jury found as a fact that the distribution was paid by reason of a ruling by the Commissioner that the pension plan no longer qualified for exemption and not by reason of the employee’s separation from the service ; accordingly, taxpayer’s claim for refund was denied. 218 F.Supp. 845 (E.D. La.1963). After a careful review of the record, we are convinced such a finding is not clearly erroneous. Fed.R.Civ.P. 52(a). The judgment is affirmed.

A.M. And Antoinette B. Jacob v. Charles A. Donnelly, Formerly Collector of Internal Revenue at New Orleans, 374 F.2d 503, 19 A.F.T.R.2d (RIA) 1075, 1967 U.S. App. LEXIS 7052 (5th Cir. 1967).

Pincite

374 F.2d 503 (A.M. And Antoinette B. Jacob v. Charles A. Donnelly, Formerly Collector of Internal Revenue at New Orleans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Opinion

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