BRAUNSTEIN v. COMMISSIONER OF INTERNAL REVENUE, 371 U.S. 933 (1962)
U.S. Supreme Court
BRAUNSTEIN v. COMMISSIONER OF INTERNAL REVENUE , 371 U.S. 933 (1962)
371 U.S. 933
Benjamin BRAUNSTEIN et al., petitioners,
v.
COMMISSIONER OF INTERNAL REVENUE.
No. 476.
Supreme Court of the United States
December 10, 1962
Thurman Arnold, Louis Eisenstein and Julius M. Greisman, for petitioners.
Solicitor General Cox, Acting Assistant Attorney General Jones and Harry Baum, for respondent.
Petition for writ of certiorari to the United States Court of Appeals for the Second Circuit granted limited to the following question:
- '1. Whether Section 117(m) of the Internal Revenue Code of 1939 [26 U. S.C.A. 117(m)], which provides that gain 'from the sale or exchange ... of stock of a collapsible corporation' is taxable as ordinary income rather than capital gain, is inapplicable in circumstances where the stockholders would have been entitled to capital-gains treatment had they conducted the enterprise in their individual capacities without utilizing a corporation.'
The case is placed on the summary calendar.[ Braunstein v. Commissioner of Internal Revenue 371 U.S. 933 (1962) ]
U.S. Supreme Court
BRAUNSTEIN v. COMMISSIONER OF INTERNAL REVENUE , 371 U.S. 933 (1962)
371 U.S. 933
Benjamin BRAUNSTEIN et al., petitioners,
v.
COMMISSIONER OF INTERNAL REVENUE.
No. 476.
Supreme Court of the United States
December 10, 1962
Thurman Arnold, Louis Eisenstein and Julius M. Greisman, for petitioners.
Solicitor General Cox, Acting Assistant Attorney General Jones and Harry Baum, for respondent.
Petition for writ of certiorari to the United States Court of Appeals for the Second Circuit granted limited to the following question:
- '1. Whether Section 117(m) of the Internal Revenue Code of 1939 [26 U. S.C.A. 117(m)], which provides that gain 'from the sale or exchange ... of stock of a collapsible corporation' is taxable as ordinary income rather than capital gain, is inapplicable in circumstances where the stockholders would have been entitled to capital-gains treatment had they conducted the enterprise in their individual capacities without utilizing a corporation.'
The case is placed on the summary calendar.[ Braunstein v. Commissioner of Internal Revenue 371 U.S. 933 (1962) ]
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