Commissioner of Internal Revenue v. Hemenway-Johnson Furniture Co.

Fifth Circuit

Commissioner of Internal Revenue v. Hemenway-Johnson Furniture Co.

174 F.2d 793, 37 A.F.T.R. (P-H) 1515, 1949 U.S. App. LEXIS 4367

CourtCourt of Appeals for the Fifth Circuit

DecidedMay 30, 1949

DocketNo. 12664

StatusPublished

Cited by2 cases

This text of 174 F.2d 793 (Commissioner of Internal Revenue v. Hemenway-Johnson Furniture Co.) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Commissioner of Internal Revenue v. Hemenway-Johnson Furniture Co., 174 F.2d 793, 37 A.F.T.R. (P-H) 1515, 1949 U.S. App. LEXIS 4367 (5th Cir. 1949).

Pincite

Opinion

PER curiam:

The question is whether payments made on some of taxpayer’s outstanding securities were interest which it can deduct from its income for purposes of taxation,' or were dividends paid out. The answer depends on whether the securities are interest bearing debentures, as they purport on their face to be, or are really preferred stock. There are features and facts looking both ways. The Tax Court in a careful opinion held the payments were interest. We affirm that conclusion.

Affirmed.

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PER curiam:

The question is whether payments made on some of taxpayer’s outstanding securities were interest which it can deduct from its income for purposes of taxation,' or were dividends paid out. The answer depends on whether the securities are interest bearing debentures, as they purport on their face to be, or are really preferred stock. There are features and facts looking both ways. The Tax Court in a careful opinion held the payments were interest. We affirm that conclusion.

Affirmed.

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Bluebook (online)

174 F.2d 793, 37 A.F.T.R. (P-H) 1515, 1949 U.S. App. LEXIS 4367, Counsel Stack Legal Research, https://law.counselstack.com/opinion/commissioner-of-internal-revenue-v-hemenway-johnson-furniture-co-ca5-1949.

Opinion

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