Legal Opinion
Commissioner of Internal Revenue v. Carman. Carman v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided May 23, 1951No. 173, Docket 21809PublishedCited by 11 opinions
1Opinion of the Court
SWAN, Circuit Judge.
The Tax Court determined a deficiency in the income tax of William W. 'Carman for the year 1944. The Commissioner seeks review on the ground that the deficiency found was too small. The taxpayer’s petition asserts that the court erred in finding any deficiency. The question presented is whether common stock and cash received by the taxpayer pursuant to a plan of reorganization is taxable on a capital gains basis or as ordinary income.
The facts as found by the Tax Court are reported in 13 T.C. 1029. They are not disputed and a brief summary will suffice for the present…
2Cases cited10 opinions
- Commissioner v. Estate of BedfordSupreme Court of the United States · 1945
- Commissioner v. KorellSupreme Court of the United States · 1950
- Clyde C. Pierce Corp. v. Commissioner of Internal Rev.Court of Appeals for the Fifth Circuit · 1941
- South Atlantic Steamship Line v. CommissionerUnited States Board of Tax Appeals · 1940
- Lloyd v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1946
5 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Simon Jaglom and Marie Jaglom v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1962
- First Kentucky Company v. GrayDistrict Court, W.D. Kentucky · 1960
- Tatum v. United StatesDistrict of Columbia Court of Appeals · 1952
- United Gas Improv. Co. v. CommissionerUnited States Tax Court · 1955
- Bernstein v. CommissionerUnited States Tax Court · 1954
6 more not listed; retrieve them via the Exa API.