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HELVERING v. SPROUSE

No. 22.

318 U.S. 604 (1943)

HELVERING, COMMISSIONER OF INTERNAL REVENUE v. SPROUSE.

Supreme Court of United States.

Decided April 5, 1943.

Attorney(s) appearing for the Case

Mr. Leo Brady for petitioner in No. 66.

Mr. Arnold Raum, with whom Solicitor General Fahy, Assistant Attorney General Samuel O. Clark, Jr., and Messrs. Sewall Key and Bernard Chertcoff were on the brief, for the Commissioner of Internal Revenue.

Mr. Charles E. McCulloch for respondent in No. 22.

Messrs. Nathan Bilder, Walter J. Bilder, and Erwin N. Griswold, and Mr. John E. Hughes filed briefs as amici curiae in No. 66, urging reversal.

MR. JUSTICE ROBERTS delivered the opinion of the Court.

Certiorari was granted because the decisions below in the two cases conflict. They arise under § 115 (f) (1) of the Revenue Act of 1936:1

"A distribution made by a corporation to its shareholders in its stock or in rights to acquire its stock shall not be treated as a dividend to the extent that it does not constitute income to the shareholder within the meaning of the...

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