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BRENNAN v. O'DONNELL

Civ. A. No. 66-80.

322 F.Supp. 1069 (1971)

Frances U. BRENNAN, as Executrix of the Last Will and Testament of William J. Brennan, deceased, et al., Plaintiffs, v. A. J. O'DONNELL, District Director of Internal Revenue, Defendant.

United States District Court, N. D. Alabama, S. D.

February 3, 1971.

Attorney(s) appearing for the Case

C. V. Stelzenmuller, Thomas, Taliaferro, Forman, Burr & Murray, Birmingham, Ala., for plaintiffs.

Wayman G. Sherrer, U. S. Atty., Birmingham, Ala., Jack Warren, Asst. U. S. Atty., Dept. of Justice, Washington, D. C., for defendant.

MEMORANDUM OF DECISION

POINTER, District Judge.

The sole issue is whether certain funds contributed to a corporation by its stockholders should be treated as giving rise to a second class of stock within the meaning of I.R.C. § 1371(a) (4)1, thereby making it ineligible for treatment under subchapter S.2 An earlier decision of this court [68-1 USTC ¶ 9314], holding such advances not to be...

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