1. Home
  2. Browse Decisions
  3. T.C.
  4. 26 T.C.
  5. 26 T.C. 900 (1956)
 

LUKENS v. COMMISSIONER

Docket No. 40926.

26 T.C. 900 (1956)

IRWIN G. LUKENS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed July 31, 1956.

Attorney(s) appearing for the Case

Charles S. Jacobs, Esq., and Early L. Gilbert, C. P. A., for the petitioner.

William G. Handfield, Esq., for the respondent.

Respondent determined a deficiency in income tax against petitioner for the taxable year 1948 in the amount of $14,041.66. The only issue is whether the redemption of 446 shares of petitioner's stock in a closely held corporation, in consideration for the cancellation in substantial part of the indebtedness of petitioner, was essentially equivalent to the distribution of a taxable dividend, under section 115 (g) of the Internal Revenue Code of 1939.

FINDINGS OF FACT...

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