Legal Opinion
Higginson v. United States
United States Court of Claims
Decided December 6, 1948No. 46076PublishedCited by 15 opinions
1Opinion of the Court
LITTLETON, Judge,
The first question presented is whether distributions by a corporation in payment of accumulated dividends on its preferred stock in the years 1937 to 1940, inclusive, to the extent that they represented distributions out of appreciation in value of property existing on March 1, 1913, and realized thereafter, were exempt from income tax, as claimed by plaintiff, or were taxable to the extent that they exceeded the basis of the stock, as claimed by defendant.
The facts with reference to the appreciation in value of property owned by the Gauley Coal Land Company on March 1,…
2Cases cited2 opinions
- Southern Pacific Co. v. LoweSupreme Court of the United States · 1918
- Blauvelt v. CommissionerUnited States Tax Court · 1944
3Cited by15 opinions
- American Radiator & Standard Sanitary Corp. v. United StatesUnited States Court of Claims · 1963
- United States v. Commercial National Bank of Peoria, as of the Estate of Joseph G. O'BrienCourt of Appeals for the Seventh Circuit · 1989
- Cumberland Portland Cement Co. v. United StatesUnited States Court of Claims · 1952
- Hollie v. CommissionerUnited States Tax Court · 1980
- Stuart v. United StatesUnited States Court of Claims · 1955
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