COMMISSIONER OF INTERNAL REVENUE v. WHITAKER

No. 3345.

101 F.2d 640 (1938)

COMMISSIONER OF INTERNAL REVENUE v. WHITAKER.

Circuit Court of Appeals, First Circuit.

December 28, 1938.


Attorney(s) appearing for the Case

Louise Foster, Sp. Asst. to Atty. Gen. (James W. Morris, Asst. Atty. Gen., and Sewall Key and Maurice J. Mahoney, Sp. Assts. to Atty. Gen., on the brief), for the Commissioner.

Ralph E. Tibbetts, of Boston, Mass. (Philip T. Doherty, of Boston, Mass., on the brief), for Whitaker.

Before BINGHAM and WILSON, Circuit Judges and McLELLAN, District Judge.


McLELLAN, District Judge.

This petition to review a decision of the Board of Tax Appeals relates to a transaction whereby in 1931 the taxpayer, Stella S. Whitaker, surrendered 1,000 shares of $6 preferred stock of the General Baking Corporation, a Maryland corporation, and received 1,500 shares of common stock of the General Baking Company, a New York corporation, $3,000 face value 5½ per cent debenture bonds of the...

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