HELVERING v. SCHOELLKOPF

No. 79.

100 F.2d 415 (1938)

HELVERING, Commissioner of Internal Revenue, v. SCHOELLKOPF.

Circuit Court of Appeals, Second Circuit.

December 5, 1938.


Attorney(s) appearing for the Case

James W. Morris, Asst. Atty. Gen., and Sewall Key and Maurice J. Mahoney, Sp. Asst. Attys. Gen., for petitioner.

Kenefick, Cooke, Mitchell, Bass & Letchworth and Ernest J. Brown, all of Buffalo, N.Y. (John L. Kenefick and Ralph M. Andrews, both of Buffalo, N.Y., of counsel), for respondent J. F. Schoellkopf.

Before MANTON, L. HAND, and AUGUSTUS N. HAND, Circuit Judges.


L. HAND, Circuit Judge.

The Commissioner appeals from an order of the Board of Tax Appeals, expunging part of a deficiency, assessed by him against the respondent upon his income tax for the year, 1931. The taxpayer was the holder of preferred shares in the General Baking Company of Maryland, a holding company, whose assets consisted only of the common shares of a New York company of the same name, and odds and ends of chattels and choses in action, valued at about...

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