Legal Opinion
Charles P. Ballenger, Jr., and Myrtle S. Ballenger v. United States
Court of Appeals for the Fourth Circuit
Decided March 19, 1962No. 8423PublishedCited by 44 opinions
1Opinion of the Court
J. SPENCER BELL, Circuit Judge.
This is an appeal from a judgment of the District Court denying a refund of income taxes in the amount of $14,655.03 plus interest for the year 1954. The explanation given for the deficiency assessment was that the redemption of all of the outstanding preferred stock of the corporation, which was owned by the taxpayers, who are husband and wife, was essentially equivalent to a dividend and, was not, therefore, entitled to capital gains treatment under the provisions of § 302(b) (1) of the Internal Revenue Code of 1954.
A chronological statement of the pertinent…
2Cases cited24 opinions
- Wall v. United StatesCourt of Appeals for the Fourth Circuit · 1947
- 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
- Television Industries, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1960
- United States v. John H. FewellCourt of Appeals for the Fifth Circuit · 1958
19 more not listed; retrieve them via the Exa API.
3Cited by44 opinions
- United States v. DavisSupreme Court of the United States · 1970
- Benjamin v. CommissionerUnited States Tax Court · 1976
- William J. Sullivan and Georgia K. Sullivan v. United StatesCourt of Appeals for the Eighth Circuit · 1966
- Metzger Trust v. CommissionerUnited States Tax Court · 1981
- Edgar S. Idol, Katherine G. Idol, and Speedway Transports, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1963
39 more not listed; retrieve them via the Exa API.