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COMMISSIONER OF INTERNAL REVENUE v. LO BUE

No. 11524.

223 F.2d 367 (1955)

COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. Philip J. LO BUE, Respondent.

United States Court of Appeals Third Circuit.

Decided June 9, 1955.

Attorney(s) appearing for the Case

John F. Davis, Washington, D. C. (H. Brian Holland, Asst. Atty. Gen., Ellis N. Slack, Hilbert P. Zarky, Joseph F. Goetten, Sp. Assts. to Atty. Gen., on the brief), for petitioner.

H. Avery Rafuse, Boston, Mass. (Richard F. Barrett, Powers & Hall, Boston, Mass., on the brief), for respondent.

Charles H. Murchison, Edgar J. Goodrich, Lipman Redman, Stockton, Ulmer & Murchison, Guggenheimer, Untermyer, Goodrich & Amram, Washington, D. C., on the brief, for amicus curiae.

Before MARIS and HASTIE, Circuit Judges, and MILLER, District Judge.

MARIS, Circuit Judge.

This case involves the taxability as compensation to the taxpayer of the difference between the purchase price and market value of stock in his employer, Michigan Chemical Corporation, which was acquired by him pursuant to stock options granted to him as an employee by that corporation. The facts are set out at length in the opinion of the Tax Court in this case, 22 T.C. 440, and need not be repeated here. Suffice...

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