Himmel v. Commissioner
United States Tax Court
Held, distributions in redemption of portions of the principal petitioner's preferred stock in the H. A. Leed Co. were essentially equivalent to dividends; and accordingly they are taxable as ordinary income from dividends to the extent of the corporation's earnings and profits.
1Opinion of the Court
OPINION
The question we have here to answer has, we think not without some justification, been characterized as “vexing” (Bradbury v. Commissioner, 298 F. 2d 111 (C.A. 1), affirming a Memorandum Opinion of this Court), and even “nightmarish” (United States v. Fewell, 255 F. 2d 496 (C.A. 5)). It is, as we stated above, whether the distributions made by the H. A. Leed Co. to the petitioner-husband, in connection with the redemptions by the corporation of portions of the petitioner’s preferred nonvoting stock in said corporation, were true redemptions for Federal income tax purposes, or whether…
2Cases cited16 opinions
- Flanagan v. HelveringCourt of Appeals for the D.C. Circuit · 1940
- Elizabeth N. B. Ferro v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1957
- United States v. John H. FewellCourt of Appeals for the Fifth Circuit · 1958
- Heman v. CommissionerUnited States Tax Court · 1959
- Eva D. Bradbury v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1962
11 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Benjamin v. CommissionerUnited States Tax Court · 1976
- Estate of Lammerts v. CommissionerUnited States Tax Court · 1970
- Isidore Himmel and Estate of Lillian Himmel, Isidore Himmel v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1964
- Levin v. CommissionerUnited States Tax Court · 1966
- Roebling v. CommissionerUnited States Tax Court · 1981
20 more not listed; retrieve them via the Exa API.