Oestreicher v. Commissioner
United States Tax Court
The petitioner received an amount in partial retirement of a corporate obligation. The obligation referred to itself as being "registered" and was transferable only on the corporation's books. The corporation did not keep a formal register of its obligations. Held, the note was "in registered form" within the meaning of section 117 (f), Internal Revenue Code, and the gain realized upon partial retirement thereof was therefore entitled to capital gain treatment.
1Opinion of the Court
OPINION.
Raum, Judge:
The petitioner filed a claim for refund of $536.25 of income taxes paid for the year 1945. The respondent determined that there was a deficiency in income taxes in the amount of $605.56 for that year. The only issue presented is whether an amount received by the petitioner, in partial retirement of a corporate obligation, was ordinary income or long-term capital gain pursuant to section 117 (f) of the Internal Revenue Code.1
The facts have been stipulated and are so found. The petitioner is the sole surviving trustee of the trust under the will of Isaac Oestreicher,…
2Cases cited6 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Caulkins v. CommissionerUnited States Tax Court · 1943
- Gerard v. HelveringCourt of Appeals for the Second Circuit · 1941
- Rieger v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1943
- Timken v. CommissionerUnited States Tax Court · 1946
1 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Humacid Co. v. CommissionerUnited States Tax Court · 1964
- Miller v. CommissionerUnited States Tax Court · 1959
- Funk v. CommissionerUnited States Tax Court · 1960
- Rosen v. United StatesDistrict Court, W.D. Pennsylvania · 1960
- Wilson v. CommissionerUnited States Tax Court · 1969
7 more not listed; retrieve them via the Exa API.