Legal Opinion
Kistler v. Burnet
Court of Appeals for the D.C. Circuit
Decided April 4, 1932No. 5371PublishedCited by 12 opinions
1Opinion of the Court
MARTIN, Chief Justice.
The question presented by this appeal is whether a taxpayer who owns certain shares of preferred stock in a corporation sustains a deductible loss, when, under the circumstances hereinafter set out, he surrenders a certain proportion of his stoek to be canceled by the corporation, without receiving any direct consideration for the stock so surrendered and canceled.
The record discloses that the Kistler Dumber Company was a Delaware corporation having three classes of capital stoek. The first consisted of 8,800 shares of first preferred stoek, all outstanding, having a par…
2Cases cited4 opinions
- Brewster v. GageSupreme Court of the United States · 1930
- Maryland Casualty Co. v. United StatesSupreme Court of the United States · 1920
- FIRST NAT. BANK IN WICHITA v. Commissioner of Int. Rev.Court of Appeals for the Tenth Circuit · 1931
- Burns v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1929
3Cited by12 opinions
- Downer v. CommissionerUnited States Tax Court · 1967
- Tumulty v. District of ColumbiaCourt of Appeals for the D.C. Circuit · 1939
- Commissioner v. Batten, Barton, Durstine & Osborn, Inc.Court of Appeals for the Second Circuit · 1948
- United Gas Improvement Co. v. Commissioner of Int. Rev.Court of Appeals for the Third Circuit · 1944
- Interstate Transit Lines v. Commissioner of Int. Rev.Court of Appeals for the Eighth Circuit · 1942
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