Legal Opinion
Edwards v. Allen
Court of Appeals for the Fifth Circuit
Decided November 16, 1954No. Nos. 15018, 15019, 15020PublishedCited by 11 opinions
1Opinion of the Court
TUTTLE, Circuit Judge.
We have here for consideration the 'question as to whether payments made by the stockholders and officers of a corporation to satisfy a guaranty agreement previously executed by them in order to obtain additional credit for their wholly owned corporation, such payments being made when the corporation’s assets had dwindled to the point that they would never thereafter be sufficient to reimburse them, caused such stockholders to sustain losses during the taxable year “incurred in [a] transaction entered into for profit,” within the meaning of Section 23(e),1 Internal…
2Cases cited8 opinions
- Spring City Foundry Co. v. CommissionerSupreme Court of the United States · 1934
- Eckert v. BurnetSupreme Court of the United States · 1931
- Helvering v. PriceSupreme Court of the United States · 1940
- Lloyd-Smith v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1941
- Fox v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1951
3 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Putnam v. CommissionerSupreme Court of the United States · 1956
- Vincent C. Giblin v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Frank Nelson, Jr. And Lee Etta Nelson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1960
- Max Putnam and Elizabeth Putnam v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1955
- Louis N. Pokress and Estate of Lucille A. Pokress, Deceased, Louis N. Pokress v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1956
6 more not listed; retrieve them via the Exa API.