Slover v. Commissioner
United States Tax Court
Corporate transferee of property held not to have "inherited" earnings and profits of transferor corporation under doctrine of Commissioner v. Sansome, 60 Fed. (2d) 931, where, on reorganization, receipt of transferee's stock by transferor's sole stockholder (petitioner) had been taxed as ordinary dividend.
1Opinion of the Court
OPINION.
OppeR, Judge:
Whether the distributions to petitioners by the new corporation are taxable dividends depends in the last analysis on the applicability of the rule first announced in Commissioner v. Sansome (C. C. A., 2d Cir.), 60 Fed. (2d) 931; certiorari denied, 287 U. S. 667. It is agreed that the new corporation had exhausted its own earnings and profits, and only on the theory that some part of the earnings of its transferor were “inherited” by it, under the Sansome doctrine, would the distributions to petitioners be taxable as dividends rather than being considered as a return of…
2Cases cited5 opinions
- Commissioner v. WheelerSupreme Court of the United States · 1945
- R. D. Merrill Co. v. CommissionerUnited States Tax Court · 1945
- Mandel v. CommissionerUnited States Tax Court · 1945
- Munter v. CommissionerUnited States Tax Court · 1945
- Pioneer Parachute Co. v. CommissionerUnited States Tax Court · 1946
3Cited by7 opinions
- Commissioner v. PhippsSupreme Court of the United States · 1949
- Bateman v. CommissionerUnited States Tax Court · 1963
- Spangler v. CommissionerUnited States Tax Court · 1952
- Humpage v. CommissionerUnited States Tax Court · 1952
- Bateman v. CommissionerUnited States Tax Court · 1963
2 more not listed; retrieve them via the Exa API.