KOCH v. COMMISSIONER
United States Board of Tax Appeals
A redemption in 1928 of stock owned by petitioner held not to have been made under circumstances essentially equivalent to the distribution of a taxable dividend so as to make the whole amount distributed in redemption of the stock taxable as a dividend under the provisions of section 115(g) of the 1928 Act.
1Opinion of the Court
*1026OPINION.
Art undell :
The petitioner contends that the transaction giving rise to the controversy is essentially a capital transaction and, accordingly, only the gain realized by him on the stock sale should be taxed. This profit of $1,504.20 he reported as taxable income. The respondent determined in his audit of the return, and still maintains, that the circumstances of the deal are within the provisions of section 115(g) of the Revenue Act of 1928 and a tax should be paid on the whole amount of $14,350 credited to the petitioner’s account as a dividend. The petitioner is not making any point…
2Cited by10 opinions
- Flanagan v. HelveringCourt of Appeals for the D.C. Circuit · 1940
- Adler v. CommissionerUnited States Board of Tax Appeals · 1934
- Connelly v. CommissionerUnited States Board of Tax Appeals · 1934
- Bradbury v. CommissionerUnited States Tax Court · 1961
- KOCH v. COMMISSIONERUnited States Board of Tax Appeals · 1932
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