Towne v. Eisner
District Court, S.D. New York
At Law. Action by Henry R. Towne against Max Eisner, Collector of United States Internal Revenue lor the Third District of the State of New York. On demurrer to the complaint.
1Opinion of the Court
AUGUSTUS N. HAND, District Judge.
This is an action to recover income taxes paid upon stock dividends under protest. The directors and stockholders of the Yale & Towne Manufacturing Company, having a surplus, all of which was earned prior to January 1, *7041913, voted on December 17, 1913, to transfer $1,500,000 thereof to its capital account and to apply the same to the payment of an issue of 15,000 shares’ of new stock, of the par value of $100 a share, and to distribute this stock pro rata among stockholders of record on December 26, 1913. The actual distribution was made January 2, 1914.…
2Cases cited17 opinions
- Brushaber v. Union Pacific RailroadSupreme Court of the United States · 1916
- Kepner v. United StatesSupreme Court of the United States · 1904
- Pollock v. Farmers' Loan & Trust Co.Supreme Court of the United States · 1895
- Gibbons v. MahonSupreme Court of the United States · 1890
- In Re the Accounting of OsborneNew York Court of Appeals · 1913
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3Cited by3 opinions
- Wilson v. CommissionerUnited States Board of Tax Appeals · 1926
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- Wilson v. CommissionerUnited States Board of Tax Appeals · 1926