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BENEDEK v. COMMISSIONER OF INTERNAL REVENUE

Nos. 568-71, Dockets 33467-70.

429 F.2d 41 (1970)

Louis BENEDEK and Janet Benedek, Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Appellee. Henry HIRSCH and Myrtle G. Hirsch, Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Appellee. Alexander P. HIRSCH and Mary E. Hirsch, Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Appellee. Martin H. BENEDEK and Leonore Benedek, Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Appellee.

United States Court of Appeals, Second Circuit.

Decided July 1, 1970.

Attorney(s) appearing for the Case

Arthur C. Silverman, New York City (Golenbock & Barell, New York City, of counsel), for appellants.

David E. Carmack, Atty., Dept. of Justice, Washington, D. C. (Johnnie M. Walters, Asst. Atty. Gen., Lee A. Jackson, Harry Baum, Attys., Dept. of Justice, Washington, D. C., of counsel), for the Commissioner.

Before WATERMAN, FRIENDLY and HAYS, Circuit Judges.

HAYS, Circuit Judge.

We are here concerned with appeals from four decisions of the Tax Court which present, in a consolidated brief and appendix, the single issue of whether the Tax Court erred in holding certain corporate distributions to be attributable to collapsible assets and therefore taxable to the recipients as ordinary income rather than as capital gains. The Tax Court upheld the Commissioner in his determination of deficiencies totaling $1,228,659.19 in...

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