Legal Opinion
John L. Hawkinson and Laura W. Hawkinson, Husband and Wife v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided July 23, 1956No. 23846_1PublishedCited by 20 opinions
1Opinion of the Court
HINCKS, Circuit Judge.
■ This is a petition for review of a decision of the Tax Court, 23 T.C. 933, holding taxable as ordinary income, under § 112(c) (2), I.R.C. of 1939, 26 U.S.C.A. § 112(c) (2), an amount of canceled indebtedness owed by taxpayer wife to a corporation, Whitney Chain, 1 of which she was a stockholder, and canceled in the process of the consolidation of Whitney Chain with Hanson-Whitney 2 to form Whitney-Hanson Industries. 3
The facts were stipulated and are set forth fully in the opinion of the Tax Court. The relevant facts are as follows. Whitney Chain was a closely held…
2Cases cited14 opinions
- Dobson v. CommissionerSupreme Court of the United States · 1944
- Commissioner v. Estate of BedfordSupreme Court of the United States · 1945
- Flanagan v. HelveringCourt of Appeals for the D.C. Circuit · 1940
- Lewis v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1949
- Kirschenbaum v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1946
9 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Commissioner v. ClarkSupreme Court of the United States · 1989
- Arthur King Wilson v. United StatesCourt of Appeals for the Ninth Circuit · 1958
- King Enterprises, Inc. v. The United StatesUnited States Court of Claims · 1969
- United States v. John H. FewellCourt of Appeals for the Fifth Circuit · 1958
- Berghash v. CommissionerUnited States Tax Court · 1965
15 more not listed; retrieve them via the Exa API.