Haft Trust v. Commissioner
United States Tax Court
After decision was entered in Robin Haft Trust, 61 T.C. 398 (1973), holding that distributions in redemption of the petitioners' shares were essentially equivalent to dividends under sec. 302(b)(1), I.R.C. 1954, the petitioners filed agreements under sec. 302(c)(2) (A)(iii), I.R.C. 1954, and moved for a reconsideration of the opinion and vacation of the decisions.
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After decision was entered in Robin Haft Trust, 61 T.C. 398 (1973), holding that distributions in redemption of the petitioners' shares were essentially equivalent to dividends under sec. 302(b)(1), I.R.C. 1954, the petitioners filed agreements under sec. 302(c)(2) (A)(iii), I.R.C. 1954, and moved for a reconsideration of the opinion and vacation of the decisions. Held, such agreements were filed too late to constitute effective agreements under sec. 302(c)(2)(A) (iii), and petitioners' motions are denied.
1Opinion of the Court
SUPPLEMENTAL OPINION
Simpson, Judge:
In Robin Haft Trust, 61 T.C. 398 (1973), we held that in determining whether the distributions in redemption of the petitioners’ stock were to be treated as essentially equivalent to dividends within the meaning of section 302 (b) (1) of the Internal Revenue Code of 1954,2 the attribution rules of section 318 were applicable, and wo found that the distributions were essentially equivalent to dividends. After the decisions were entered in that case, the petitioners filed agreements under section 302 (c) (2) (A) (iii) with the respondent’s counsel in this…
2Cases cited20 opinions
- Poe v. SeabornSupreme Court of the United States · 1930
- United States v. DavisSupreme Court of the United States · 1970
- Bayley v. CommissionerUnited States Tax Court · 1960
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