Braude v. Commissioner
United States Tax Court
1. Held, gain realized from a distribution made possible by writing up assets of a corporation engaged in the construction of an apartment building taxable as ordinary income under section 117(m) of the 1939 Internal Revenue Code and not subject to limitations of section 117(m)(3)(B) and (C). 2. Held, failure to file a declaration of estimated tax not due to reasonable cause.
1Opinion of the Court
Paul Braude and Anne Braude, Petitioners, v. Commissioner of Internal Revenue, Respondent. Joseph E. Muson and Beatrice Hakmaier Muson, Petitioners, v. Commissioner of Internal Revenue, Respondent
Braude v. Commissioner
Docket Nos. 78143, 78146
United States Tax Court
35 T.C. 1158; 1961 U.S. Tax Ct. LEXIS 185;
March 31, 1961, Filed
Decisions will be entered under Rule 50.
1. Held, gain realized from a distribution made possible by writing up assets of a corporation engaged in the construction of an apartment building taxable as ordinary income under section 117(m) of the 1939 Internal Revenue Code…
2Cases cited5 opinions
- Arthur Glickman Herman Glickman and Ruth Glickman and Aaron Glickmand and Freda Glickman v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1958
- Bouche v. CommissionerUnited States Tax Court · 1952
- Gerber v. CommissionerUnited States Tax Court · 1959
- Short v. CommissionerUnited States Tax Court · 1961
- Braude v. CommissionerUnited States Tax Court · 1961