Legal Opinion
Ellis Campbell, Jr., District Director of Internal Revenue v. Carter Foundation Production Company
Court of Appeals for the Fifth Circuit
Decided September 19, 1963No. 18980PublishedCited by 31 opinions
1Opinion of the Court
JOHN R. BROWN, Circuit Judge.
In this appeal by the Government from a judgment in favor of the Taxpayer corporation, we are confronted with- two questions. The first is whether amounts paid by Taxpayer to its sole stockholder were “interest on indebtedness” entitling Taxpayer to a deduction rather than nondeductible constructive dividends as urged by the Government. The second is whether Taxpayer, as a result of the transfer of assets from the Foundation to its wholly owned Taxpayer operating corporation, gets a stepped-up basis for purposes of depreciation and depletion. As the parties…
2Cases cited12 opinions
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- John v. Rowan v. United StatesCourt of Appeals for the Fifth Circuit · 1955
- Kraft Foods Company v. Commissioner of Internal Revenue, (Two Cases)Court of Appeals for the Second Circuit · 1956
- Sun Properties, Inc. v. United StatesCourt of Appeals for the Fifth Circuit · 1955
- Gooding Amusement Co. v. CommissionerCourt of Appeals for the Sixth Circuit · 1956
7 more not listed; retrieve them via the Exa API.
3Cited by31 opinions
- Estate of Travis Mixon, Jr. v. United StatesCourt of Appeals for the Fifth Circuit · 1972
- Alterman Foods, Inc. v. United StatesCourt of Appeals for the Fifth Circuit · 1975
- Jean C. Tyler and Dolly Ann Tyler v. Laurie W. Tomlinson, District Director of Internal RevenueCourt of Appeals for the Fifth Circuit · 1969
- Laurie W. Tomlinson, District Director of Internal Revenue for the District of Florida v. The 1661 CorporationCourt of Appeals for the Fifth Circuit · 1967
- Stinnett's Pontiac Service, Inc., Richard W. Stinnett and Gay P. Stinnett v. Commissioner of Internal Revenue ServiceCourt of Appeals for the Eleventh Circuit · 1984
26 more not listed; retrieve them via the Exa API.