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Commissioner of Internal Revenue v. Trustees Common Stock John Wanamaker Philadelphia

178 F.2d 10, 38 A.F.T.R. (P-H) 1014, 1949 U.S. App. LEXIS 4286
CourtCourt of Appeals for the Third Circuit
DecidedNovember 29, 1949
Docket9994
StatusPublished
Cited by33 cases

This text of 178 F.2d 10 (Commissioner of Internal Revenue v. Trustees Common Stock John Wanamaker Philadelphia) is published on Counsel Stack Legal Research, covering Court of Appeals for the Third 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. Trustees Common Stock John Wanamaker Philadelphia, 178 F.2d 10, 38 A.F.T.R. (P-H) 1014, 1949 U.S. App. LEXIS 4286 (3d Cir. 1949).

Opinion

PER CURIAM

The sole question in this case is whether cash receipts by the taxpayers resulting from the sale by them of stock in a corporation to its wholly owned subsidiary are taxable as dividends under Section 115(g) of the Internal Revenue Code, 26 U.S.C.A. § 115(g). Upon the authority of Mead Corporation v. Commissioner of Internal Revenue, 3 Cir. 1940, 116 F.2d 187, and for the reasons well stated in the opinion filed by Judge Opper for the Tax Court in banc, 11 T.C. 365, we hold that they are not so taxable.

The decision of the Tax Court will be affirmed.

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Bluebook (online)
178 F.2d 10, 38 A.F.T.R. (P-H) 1014, 1949 U.S. App. LEXIS 4286, Counsel Stack Legal Research, https://law.counselstack.com/opinion/commissioner-of-internal-revenue-v-trustees-common-stock-john-wanamaker-ca3-1949.