William G. Maguire v. Commissioner of Internal Revenue

SCHNACKENBERG, Circuit Judge,

This is a petition for review of a decision of the tax court of the United States. 1 Involved is the income tax liability of petitioner (herein sometimes referred to as “taxpayer”) for the year 1945. During that year, as well as before and since, taxpayer was and has been the owner of shares of stock of Missouri-Kansas Pipe Line Company (which, in this era of synthetic abbreviations, is referred to in this litigation as “Mokan”).

The first question presented to us is whether certain corporate distributions by Mokan to taxpayer in 1945 were in part taxable…