Legal Opinion
Shore v. Commissioner
Court of Appeals for the Fifth Circuit
Decided February 6, 1961No. 18319PublishedCited by 5 opinions
1Opinion of the Court
JOHN R. BROWN, Circuit Judge.
This appeal from a decision of the Tax Court presents the question whether distributions to American stockholders of a Cuban corporation were to be treated as capital gains under 26 U.S.C.A. § 115(c), (1939 Code), or as ordinary income. The Tax Court held them to be ordinary income and the Taxpayers appeal.1
Actually the record is substantially undisputed so far as the underlying facts are concerned. Milliken (see note 1) was obviously the driving force in setting up the corporation. He was a principal stockholder in a steamship company (In*743tercontinental) which had…
2Cases cited14 opinions
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Helvering v. F. & R. Lazarus & Co.Supreme Court of the United States · 1939
- Federal Maritime Board v. Isbrandtsen Co.Supreme Court of the United States · 1958
- Kimbell-Diamond Milling Co. v. Comm'rUnited States Tax Court · 1950
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3Cited by5 opinions
- Knox v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1963
- Philip Shore v. Commissioner Of Internal RevenueCourt of Appeals for the Fifth Circuit · 1961
- Hageman v. CommissionerUnited States Tax Court · 1970
- Lake Iola Groves, Inc. v. CommissionerUnited States Tax Court · 1984
- Lena B. Knox, Deceased, the Citizens & Southern National Bank, Temporary Administrator v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Estate of Inman H. Knox, Deceased, Blodgett Britton Knox, Commissioner of Internal Revenue v. B. Britton Knox and Helen KnoxCourt of Appeals for the Fifth Circuit · 1963