Theodore F. Appleby v. Comm'r, 296 F.2d 925 (3d Cir. 1962). · Go Syfert
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Theodore F. Appleby v. Comm'r, 296 F.2d 925 (3d Cir. 1962). Cases Citing This Book View Copy Cite
16 citation events across 4 distinct courts.
Strongest positive: Henry H. Bonsall, Jr. v. Comm'r, 317 F.2d 61 (2d Cir. 1963)
Statutes interpreted (leading-cases list)
#19 26 U.S.C. § 355 cited 1× in this case · 35 total citations of statute
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Retrieving the full opinion text from the archive…
Theodore F. APPLEBY and Marie W. Appleby, Petitioners,
v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
13690_1.
Court of Appeals for the Third Circuit.
Jan 10, 1962.
Published opinion
296 F.2d 925
Robert V.'Carton, Asbury Park, N. J. (Durand, Ivins & Carton, Asbury Park, N. J., on the brief), for petitioners., Douglas A. Kahn, Washington, D. C. (Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, A. F. Prescott, Attorneys, Department of Justice, Washington, D. C., on the brief), for respondent.
McLaughlin, Kalodner, Hastie.
Cited by 3 opinions  |  Published
PER CURIAM.

The decisive fact issue here is whether petitioners have met the “active business” requirement of Section 355 of the Internal Revenue Code of 1954, 26 U.S.C.A. § 355 so as to have the distribution of the stock of the wholly owned subsidiary qualify as a non-taxable distribution. While the Tax Court decision could have gone the other way there is ample evidence in the record to support it; certainly we cannot say that it is clearly wrong.

The decision of the Tax Court, 35 T.C. 755, will be affirmed.