APPLEMAN v. UNITED STATES


176 F.Supp. 706 (1959)

Nathan APPLEMAN and Janet G. Appleman, Plaintiffs, v. UNITED STATES of America, Defendant.

United States District Court S. D. New York.

September 15, 1959.


Attorney(s) appearing for the Case

Primoff & Primoff, New York City, Melvin I. Primoff, New York City, of counsel, for plaintiffs.

S. Hazard Gillespie, Jr., U. S. Atty., Southern District of New York, New York City, Marguerite R. de Smet, Asst. U. S. Atty., New York City, of counsel, for defendant.


DAWSON, District Judge.

This is a motion and cross-motion for summary judgment under Rule 56 of the Rules of Civil Procedure, 28 U.S.C.A. The parties have each agreed that there is no controversy as to any issue of fact. The action is one for a tax refund. The essential issue presented to the Court is whether a gain received by a taxpayer on payment in full of dividend arrears certificates is to be treated as a capital...

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