Legal Opinion
R. A. Babcock and Norma L. Babcock v. V. Lee Phillips
Court of Appeals for the Tenth Circuit
Decided January 27, 1967No. 8603PublishedCited by 17 opinions
1Opinion of the Court
HICKEY, Circuit Judge.
The sole issue to be determined on this review is whether funds distributed to appellants 1 2 were taxable as ordinary income or as long term capital gain. The trial court determined that the transactions which made the distribution available constituted a corporate reorganization which did not qualify all of the distribution for capital gain treatment. The appellants contend the distribution was made pursuant to a complete liquidation of a corporation and it should, therefore, be taxed as long term capital gain under Section 331 of the Internal Revenue Code of 1954. 3…
2Cases cited8 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Helvering v. Alabama Asphaltic Limestone Co.Supreme Court of the United States · 1942
- J. E. Davant and Kathryn Davant v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. J. E. Davant and Kathryn DavantCourt of Appeals for the Fifth Circuit · 1966
- Prairie Oil & Gas Co. v. MotterCourt of Appeals for the Tenth Circuit · 1933
3 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- E. T. Griswold v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1968
- Mark E. Degroff and Loveta S. Degroff v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Breech v. United StatesCourt of Appeals for the Ninth Circuit · 1971
- Ringwalt v. United StatesCourt of Appeals for the Eighth Circuit · 1977
- Iver W. And Faith S. Swanson v. United States of America, Iver W. Swanson v. United StatesCourt of Appeals for the Ninth Circuit · 1973
12 more not listed; retrieve them via the Exa API.