Lurie v. Commissioner
United States Tax Court
Preferred income notes issued originally without registration, were duly registered in August 1940 and retired in 1941. Held, that to qualify under section 117 (f), Revenue Act of 1938, the securities retired must have been in registered form for at least the minimum period of 18 months provided by section 117 (b).
1Opinion of the Court
OPINION.
Van Fossan, Judge-.
There is, and can be, no question raised as to the fact that the notes here in question were capital assets under the statutory definition of section 117 (a) (1). The issue arises solely from the fact that the notes were not in registered form when originally issued, formal registration or registered endorsement on the backs of the notes not being perfected until August 6,1940, less than 18 months before retirement.
The problem being one of statutory interpretation, we look first to the legislative history. Antedating section 117 (f) were the cases of Henry P.…
Also in this document: Concurrence.
2Cases cited1 opinion
- Fairbanks v. United StatesSupreme Court of the United States · 1939
3Cited by12 opinions
- Humacid Co. v. CommissionerUnited States Tax Court · 1964
- Miller v. CommissionerUnited States Tax Court · 1959
- Lurie v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1946
- Puelicher v. CommissionerUnited States Tax Court · 1946
- Driscoll v. CommissionerUnited States Tax Court · 1961
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