Legal Opinion
Heman v. Commissioner
Court of Appeals for the Eighth Circuit
Decided October 25, 1960No. Nos. 16504, 16505PublishedCited by 15 opinions
1Opinion of the Court
VAN OOSTERHOUT, Circuit Judge.
The primary issue presented by these combined petitions for review of decisions of the Tax Court, timely filed by the taxpayers, is whether the cancellation of the indebtedness of Shelby L. Heman, deceased stockholder, to Trinidad Asphalt Manufacturing Company (Trinidad), a closely held corporation, for the redemption of his 250 shares of Trinidad non-cumulative preferred stock, is essentially equivalent to a taxable dividend within the purview of Section 115(g), I.R.C.1939,1 and thus taxable as an ordinary income to Genevra Heman, decedent’s widow, and Genevra…
2Cases cited18 opinions
- Commissioner v. AckerSupreme Court of the United States · 1959
- Wall v. United StatesCourt of Appeals for the Fourth Circuit · 1947
- Louis Greenspon v. Commissioner of Internal Revenue, (Three Cases). Anna Greenspon v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1956
- Flanagan v. HelveringCourt of Appeals for the D.C. Circuit · 1940
- Bryan Et Ux. v. Commissioner of Internal Revenue. Bryan v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
13 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- United States v. DavisSupreme Court of the United States · 1970
- Gerald C. Funk and Judith M. Funk v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1982
- Edgar S. Idol, Katherine G. Idol, and Speedway Transports, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1963
- Charles P. Ballenger, Jr., and Myrtle S. Ballenger v. United StatesCourt of Appeals for the Fourth Circuit · 1962
- United States v. Gerald and Gladys CareyCourt of Appeals for the Eighth Circuit · 1961
10 more not listed; retrieve them via the Exa API.