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BECHER v. COMMISSIONER OF INTERNAL REVENUE

Nos. 202, 203, 204, Dockets 23332, 23333, 23334.

221 F.2d 252 (1955)

Ernest F. BECHER, Petitioner on Review, v. COMMISSIONER OF INTERNAL REVENUE, Respondent on Review. Chester H. KENT, Petitioner on Review, v. COMMISSIONER OF INTERNAL REVENUE, Respondent on Review. Lois S. DOREMUS, as Executrix of the Will of Howard I. Doremus, deceased, Petitioner on Review. v. COMMISSIONER OF INTERNAL REVENUE, Respondent on Review.

United States Court of Appeals Second Circuit.

Decided March 31, 1955.

Attorney(s) appearing for the Case

Daniel G. Yorkey, Buffalo, N. Y., for petitioners on review.

H. Brian Holland, Ellis N. Slack, Hilbert P. Zarky and Grant W. Wiprud, Washington, D. C., for respondent.

Before CLARK, Chief Judge, FRANK, Circuit Judge, and GALSTON, District Judge.

FRANK, Circuit Judge.

Taxpayers appeal from a decision of the Tax Court of the United States, 22 T.C. 932, holding that cash distributions received by them were taxable as ordinary income, pursuant to I.R.C. § 115 (g), 26 U.S.C.A. § 115(g). Petitioners had all owned stock in the Sponge-Aire Seat Co., Inc., which had been in the sponge rubber and canvas-product manufacturing business, particularly active during the war. After...

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