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JENNINGS v. UNITED STATES

No. 12620.

272 F.2d 842 (1959)

Jeannette H. JENNINGS, John R. Bacon, and Continental Illinois National Bank and Trust Company of Chicago, Executors of the Estate of Ode D. Jennings, deceased, and Jeannette H. Jennings, Plaintiffs-Appellees v. UNITED STATES of America, Defendant-Appellant.

United States Court of Appeals Seventh Circuit.

December 17, 1959.

Attorney(s) appearing for the Case

Charles K. Rice, Asst. Atty. Gen., Arthur I. Gould, Lee A. Jackson, Robert N. Anderson, Attorneys, Department of Justice, Washington, D. C., Robert Tieken, U. S. Atty., Chicago, Ill., for appellant.

Elden McFarland, Washington, D. C., Melvan M. Jacobs, Joseph E. Farmar, Chicago, Ill., for appellees.

Before HASTINGS, Chief Judge, and DUFFY and PARKINSON, Circuit Judges.

HASTINGS, Chief Judge.

This case concerns the legal nature of certain payments made to Ode D. Jennings and Jeannette H. Jennings (taxpayers) by O. D. Jennings and Company, a corporation. Taxpayers claimed that such payments were merely the partial repayment of a series of loans made by them to the corporation and that they were non-taxable. The Commissioner of Internal Revenue contended that these payments were taxable dividend distributions under Section 115 of the...

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