SHORT v. C. I. R.

No. 8444.

302 F.2d 120 (1962)

Frank B. SHORT and Katherine F. Short, and Richard L. Coleman and Betty B. Coleman, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fourth Circuit.

Decided April 3, 1962.

Attorney(s) appearing for the Case

W. Y. Wilkins, Jr., Tryon, N. C., for petitioners.

David O. Walter, Atty., Dept. of Justice (Louis F. Oberdorfer, Asst. Atty. Gen., and Lee A. Jackson and Harry Baum, Attys., Dept. of Justice, on brief), for respondent.

Before SOPER, BOREMAN and BRYAN, Circuit Judges.

BOREMAN, Circuit Judge.

We are concerned with two "collapsible corporations" within the meaning of Int.Rev.Code of 1939, § 117(m), 26 U.S. C.A. § 117(m). Taxpayers contend that certain funds received by them in 1950 should be treated as long-term capital gains. They here petition for review of the Tax Court's determinations that these funds are taxable as ordinary income. The cases were consolidated on appeal by order of this court. We agree with the Tax...

Let's get started

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