Legal Opinion
Estate of Otis E. Byrd, Jimmie Lou Byrd, Administratrix, Peitioner v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided March 26, 1968No. 24135_1PublishedCited by 9 opinions
1Opinion of the Court
JOHN R. BROWN,
Chief Judge:
This appeal presents a novel question in the field of income taxation. The question is whether, for purposes of a stock redemption that will qualify for exchange treatment under § 303,1 26 U. *225S.C.A. § 303, Taxpayer 2 can include not only stock owned directly by him in the redeeming corporations but also. the value of stock owned indirectly by him through another corporation which owns shares in the redeeming corporations. Belatedly asserted in the Tax Court is the further contention that the redemption qualifies for exchange treatment under § 3023 as “not essentially…
2Cases cited24 opinions
- General Utilities & Operating Co. v. HelveringSupreme Court of the United States · 1935
- Helvering v. SalvageSupreme Court of the United States · 1936
- Helvering v. Cement Investors, Inc.Supreme Court of the United States · 1942
- United States v. John H. FewellCourt of Appeals for the Fifth Circuit · 1958
- Eva D. Bradbury v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1962
19 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Fehrs Finance Company, Cross-Appellee v. Commissioner of Internal Revenue, Cross-AppellantCourt of Appeals for the Eighth Circuit · 1973
- Clement O. Dennis and Genia Lee Dennis v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1973
- A. C. Ross, District Director of Internal Revenue, Atlanta, Georgia v. Suzanne Odom, Individually and as of the Estate of Benton Odom, DeceasedCourt of Appeals for the Fifth Circuit · 1968
- David B. Greenberg v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 2021
- Raghunathan Sarma v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 2022
4 more not listed; retrieve them via the Exa API.