EDMOND WEIL, INC., v. COMMISSIONER OF INTERNAL REV.

No. 274.

150 F.2d 950 (1945)

EDMOND WEIL, Inc., v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

July 19, 1945.


Attorney(s) appearing for the Case

Nathan Immerman, of New York City, for petitioner, Edmond Weil, Inc.

Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key, A. F. Prescott and Morton K. Rothschild, Sp. Assts. to Atty. Gen., for respondent Commissioner of Internal Revenue.

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


AUGUSTUS N. HAND, Circuit Judge.

The taxpayer, Edmond Weil, Inc., a New York corporation, owned 50% of the stock of a Brazilian corporation. Its other stockholders were Agos and Wohl, who owned 30% and 20% of the stock respectively. The holdings of the stock were 5000 shares by Edmond Weil, Inc., 3000 shares by Agos and 2,000 shares by Wohl. Because the taxpayer was advised by counsel that the nationalistic tendency in Brazil made it dangerous for Americans or other...

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