Legal Opinion
Ellsworth C. Alvord and Katharyn W. Alvord, Husband and Wife v. Commissioner of Internal Revenue
Court of Appeals for the Fourth Circuit
Decided April 26, 1960No. 7984_1PublishedCited by 14 opinions
1Opinion of the Court
HAYNSWORTH, Circuit Judge.
The question is whether a citizen of the United States, who owns a majority of the stock of a foreign personal holding company, is taxable under § 337 of the 1939 Code 1 on his share of the undistributed net income of the corporation during years in which the United States effectively prohibited the distribution of such income. In holding that he was, 2 we think the Tax Court adopted a too literal and an erroneous interpretation of the statute.
Brief reference to the background, fully set forth in the opinion of the Tax Court, is necessary to an understanding of the…
2Cases cited8 opinions
- Church of the Holy Trinity v. United StatesSupreme Court of the United States · 1892
- Markham v. CabellSupreme Court of the United States · 1946
- Peter Pan Fabrics, Inc. And Henry Glass & Co. v. Martin Weiner Corp.Court of Appeals for the Second Circuit · 1960
- United States v. MoniaSupreme Court of the United States · 1943
- Marsman v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1953
3 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Jacob Abdalla and Mary T. Abdalla v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1981
- Dow Chemical Co. v. Commissioner of RevenueMassachusetts Supreme Judicial Court · 1979
- Garlock, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1973
- Gutierrez v. CommissionerUnited States Tax Court · 1969
- Mariani Frozen Foods, Inc. v. CommissionerUnited States Tax Court · 1983
9 more not listed; retrieve them via the Exa API.