Legal Opinion
Insull v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided January 19, 1937No. 5846-5848PublishedCited by 5 opinions
1Opinion of the Court
SPARKS, Circuit Judge.
There is but one question presented by these petitions for review of decisions of the Board of Tax Appeals. It is whether any part of the profit from the sale, in the year 1930, of common stock of the Insull Utility Investments, Inc., acquired through the exercise of stock rights grant ed to the holders of the corporate preferred stock, first series, is taxable as capital gain, or whether all the profit is taxable as ordinary income. The Board of Tax Appeals held that it was taxable as ordinary income, and from that decision these appeals are prosecuted.
The petitioners,…
2Cases cited12 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- United States v. PhellisSupreme Court of the United States · 1921
- Koshland v. HelveringSupreme Court of the United States · 1936
- Miles v. Safe Deposit & Trust Co. of BaltimoreSupreme Court of the United States · 1922
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3Cited by5 opinions
- Chamberlin v. CommissionerCourt of Appeals for the Sixth Circuit · 1953
- Chamberlin v. Commissioner of Internal Revenue (Two Cases). Toner v. Commissioner of Internal Revenue. Carl v. Commissioner of Internal Revenue. Schrock v. Commissioner of Internal Revenue. Pierce v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1953
- National Bellas Hess, Inc. v. CommissionerUnited States Tax Court · 1953
- National Bellas Hess, Inc. v. CommissionerUnited States Tax Court · 1953
- National Bellas Hess, Inc. v. CommissionerUnited States Tax Court · 1953