1. Home
  2. Browse Decisions
  3. F.2d
  4. 288 F.2d
  5. 288 F.2d 676 (1961)
 

C.I.R. v. MORGAN

No. 13306.

288 F.2d 676 (1961)

COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. Walter L. and Helen MORGAN, Respondents.

United States Court of Appeals Third Circuit.

Decided March 21, 1961.

Rehearing Denied April 13, 1961.

Attorney(s) appearing for the Case

Crombie J. D. Garrett, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Meyer Rothwacks, Harry Baum, Abbott M. Sellers, Acting Asst. Atty. Gen., Lee A. Jackson, Attys., Dept. of Justice, Washington, D. C., on the brief), for petitioner.

William R. Spofford, Philadelphia, Pa. (Andrew B. Young, Ballard, Spahr, Andrews & Ingersoll, Stradley, Ronon, Stevens & Young, Philadelphia, Pa., on the brief), for respondents.

Before KALODNER, STALEY and HASTIE, Circuit Judges.

STALEY, Circuit Judge.

This petition for review requires us to determine whether distributions made to a shareholder pursuant to a corporate liquidation are taxable as dividend income under subsection 112(c) (2) or as a long term capital gain under subsection 115(c) of the Internal Revenue Code of 1939, 26 U.S.C.A. (Int.Rev.Code 1939), which provisions control here.

For many years Wellington Fund, Inc. ("Fund"), a...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases