Legal Opinion
Alpers v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided February 21, 1942No. 20PublishedCited by 15 opinions
1Opinion of the Court
SWAN, Circuit Judge.
In 1935 the taxpayer realized a gain of $27,787 upon disposing of 20 shares of stock which he had held for more than 10 years. The question presented is whether such gain is taxable under section 117(a) of the Revenue Act of 1934, 26 U.S.C.A. Int.Rev.Acts, page 707, as gain resulting from the sale or exchange of a capital asset, in which case only 30 per cent, thereof is taxable, or whether it is taxable under section 115(c), 26 U.S.C.A. Int.Rev.Acts, page 703, as gain resulting from a distribu*59tion in partial liquidation of a corporation, in which case 100 per cent, is…
2Cases cited8 opinions
- Lyeth v. HoeySupreme Court of the United States · 1938
- Britt v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1940
- Amelia H. Cohen Trust v. Commissioner of Int. Rev.Court of Appeals for the Third Circuit · 1941
- Britt v. CommissionerUnited States Board of Tax Appeals · 1939
- Smith v. CommissionerUnited States Board of Tax Appeals · 1938
3 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Wall v. United StatesCourt of Appeals for the Fourth Circuit · 1947
- Boyle v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1951
- Heman v. CommissionerUnited States Tax Court · 1959
- Keefe, Collector v. CoteCourt of Appeals for the First Circuit · 1954
- Kirschenbaum v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1946
10 more not listed; retrieve them via the Exa API.