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HILL v. COMMISSIONER

Docket No. 10131.

10 T.C. 1090 (1948)

ESTATE OF ELISE W. HILL, DECEASED, BY FREDERICK WEYERHAEUSER, CARL A. WEYERHAEUSER, AND MARY ELLEN REID, AS EXECUTORS OF SAID ESTATE, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 10, 1948.

Attorney(s) appearing for the Case

Wayne C. Gilbert, Esq., for the petitioners.

E. C. Adams, Esq., for the respondent.

This case involves an income tax deficiency for 1936 in the amount of $79,040.62. The question presented is whether a distribution received by petitioners' decedent in 1936 from the Timber Securities Co. was a distribution in liquidation of that corporation, taxable under the provisions of section 115 (c) of the Revenue Act of 1936 as a capital gain, or whether it was a distribution made in pursuance of a plan of reorganization and taxable under the provisions of section...

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