1. Home
  2. Browse Decisions
  3. U.S.
  4. 339 U.S.
  5. 339 U.S. 619 (1950)
 

COMMISSIONER v. KORELL

No. 384.

339 U.S. 619 (1950)

70 S.Ct. 905

94 L.Ed. 1108

COMMISSIONER OF INTERNAL REVENUE v. KORELL.

Supreme Court of United States.

Decided June 5, 1950.

Attorney(s) appearing for the Case

Arnold Raum argued the cause for petitioner. With him on the brief were Solicitor General Perlman, Assistant Attorney General Caudle, Ellis N. Slack and Oscar H. Davis.

Paul L. Peyton argued the cause and filed a brief for respondent.

Nat Schmulowitz and Peter S. Sommer filed a brief for Shoong et al., as amici curiae, supporting respondent.

MR. CHIEF JUSTICE VINSON delivered the opinion of the Court.

The tax consequences of a purchase of convertible bonds are in issue here. In August, 1944, respondent, an individual taxpayer, purchased certain American Telephone and Telegraph Company bonds, each having a face value of $100, at a premium price averaging slightly in excess of $121. Each bond was convertible into a share of common stock, at the option of the bondholder, upon the payment of $40. The market...

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