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ESTATE OF Charles D. CHANDLER, Deceased, Margaret Chandler Bush, Executrix, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent; Helen OTT, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent; John W. BUSH, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent; Margaret C. BUSH, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent

United States Court of Appeals for the Sixth Circuit1955-12-03No. Nos. 12457, 12458, 12459, 12460
228 F.2d 909

Authorities cited

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Opinion

majority opinion

PER CURIAM.

This case was heard upon the record, briefs and arguments of counsel for the respective parties;

And it appearing that the Tax Court found that the acquisition and cancellation in 1946 by the corporation Chandler-Singleton Company, of which the petitioners were stockholders, of one-half of its capital stock was done at such a time and in such a manner as to make the cancellation and distribution of cash to the stockholders essentially equivalent to the distribution of a taxable dividend to the extent of $58,027.91; Sec. 115(g), Internal Revenue Code of 1939, 26 U.S.C.A. § 115(g);

And in the opinion of the Court such finding being a finding of fact which is sustained by the evidence and is not clearly erroneous; Rheinstrom v. Conner, 6 Cir., 125 F.2d 790; Holloway v. Commissioner, 6 Cir., 203 F.2d 566; Woodworth v. Commissioner, 6 Cir., 218 F.2d 719; United States v. United States Gypsum Co., 333 U.S. 364, 394-395, 68 S.Ct. 525, 92 L.Ed. 746; Sec. 7482(a) Internal Revenue Code of 1954, 26 U.S.C.A. § 7482(a);

It is ordered that the judgment of the Tax Court be affirmed.