United States v. Westbrook-Thompson Holding Corp.

SIBLEY, Circuit Judge.

Westbrook-Thompson Holding Corporation was taxed under title 8, section 800, and Schedule A of the Revenue Act of 1926, 44 Stats. 99, 101, in respect of the surrender of shares of its stock held by and in file name of Westbrook & Co., a partnership composed of R. A. Westbrook and S. A. Thompson, and the reissue of the stock half to and in the name of each of the partners, they being equally interested in the partnership. Refused refund, it sued the United States and obtained a judgment. On this appeal therefrom the questions made are: First, Is the transaction taxable?…