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LEWIS v. COMMISSIONER

Docket Nos. 70795, 70796.

35 T.C. 71 (1960)

THOMAS G. LEWIS AND FLORENCE BEYER LEWIS, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. CHARLES O. WALGRAN AND EDNA G. WALGRAN, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed October 20, 1960.

Attorney(s) appearing for the Case

C. Walter Randall, Jr., Esq., for the petitioners.

Frederick A. Levy, Esq., for the respondent.

In these consolidated proceedings respondent determined deficiencies in income tax for the taxable year 1954 as follows: Thomas G. and Florence Beyer Lewis, $1,156.96; Charles O. and Edna G. Walgran, $994.16.

The issue is whether the acquisition by Beyer & Fortner, Inc., of 51 shares of its stock from the estate of Eva L. Beyer was a redemption essentially equivalent to a dividend within the meaning of section 302 of the 1954 Code.

FINDINGS OF FACT.<...

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