Legal Opinion
J. E. Casner and Una Casner v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided November 9, 1971No. 29290PublishedCited by 27 opinions
1Opinion of the Court
COLEMAN, Circuit Judge:
In this case we must decide the tax consequences of a set of involved transactions which took place among the shareholders of two incorporated automobile dealerships in Texas.
Relative to the cash distributions from the paid-in capital surplus accounts of “Alpine” and “Marfa” made to the selling stockholders, J. E. Casner and B. R. Slight, we hold that such cash distributions to the selling stockholders constituted in fact a part of the purchase price paid to them for their stock and therefore were properly subject to taxation under the capital gain provisions of the…
2Cases cited17 opinions
- United States v. United States Gypsum Co.Supreme Court of the United States · 1948
- Gregory v. HelveringSupreme Court of the United States · 1935
- Helvering v. CliffordSupreme Court of the United States · 1940
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Kanawha Gas & Utilities Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
12 more not listed; retrieve them via the Exa API.
3Cited by27 opinions
- Charles A. Sammons, Individually, and Estate of Rosine S. Sammons, Deceased, Charles A. Sammons, Independent v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1973
- James and Martha Kuper and Charles and Kathleen Kuper, Cross-Appellees v. Commissioner of Internal Revenue, Cross-AppellantCourt of Appeals for the Fifth Circuit · 1976
- Emory K. Crenshaw, as of the Estate of Frances Wood Wilson, Deceased v. United StatesCourt of Appeals for the Fifth Circuit · 1972
- McClure v. HopperCourt of Appeals for the Fifth Circuit · 1978
- Estate of Elbert B. Whitt, Loyd Whitt v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1985
22 more not listed; retrieve them via the Exa API.