Legal Opinion
Commissioner of Internal Revenue v. Snite
Court of Appeals for the Seventh Circuit
Decided November 15, 1949No. 9768, 9769PublishedCited by 39 opinions
1Opinion of the Court
LINDLEY, Circuit Judge.
The Tax Court decided that the purchase price paid by a family corporation to two of its principal stockholders, husband and wife, for a portion of their stock sold to the company in 1942 and 1943, did not constitute a distribution essentially equivalent to a taxable dividend under Section 115(g) of the Internal Revenue Code, 26 U.S.C.A. § 115(g). Upon review, the commissioner makes no assault upon the findings of fact but urges that, upon their proper construction,, the decision was erroneous.
The Local Loan Company, incorporated in Delaware, July 1, 1928, had, at the…
2Cases cited9 opinions
- Bazley v. CommissionerSupreme Court of the United States · 1947
- Commissioner v. Estate of BedfordSupreme Court of the United States · 1945
- Flanagan v. HelveringCourt of Appeals for the D.C. Circuit · 1940
- Kirschenbaum v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1946
- Hirsch v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1941
4 more not listed; retrieve them via the Exa API.
3Cited by39 opinions
- Boyle v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1951
- United States v. John H. FewellCourt of Appeals for the Fifth Circuit · 1958
- Decker v. CommissionerUnited States Tax Court · 1959
- Keefe, Collector v. CoteCourt of Appeals for the First Circuit · 1954
- Anna I. Woodworth v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1955
34 more not listed; retrieve them via the Exa API.