UNITEX INDUSTRIES, INC., PETITIONER,
v.
COMMISSIONER OF INTERNAL REVENUE, RESPONDENT
UNITEX INDUSTRIES, INC., PETITIONER,
COMMISSIONER OF INTERNAL REVENUE, RESPONDENT
267 F.2d 40
Court of Appeals for the Fifth Circuit (1959)
Opinion of the Court
PER CURIAM.
The Tax Court decided that certain payments made by the petitioner, Unitex Industries, Inc., were to be treated, for Federal income tax purposes, as dividends on its preferred stock rather than as deductible interest expense. Unitex Industries, Inc. v. Commissioner, 30 T.C. 468. We find ourselves in agreement with the determination of the Tax Court. See United States v. South Georgia Railway Co., 5 Cir., 1939, 107 F. 2d 3; Staked Plains Trust, Ltd. v. Commissioner, 5 Cir., 1944, 143 F. 2d 421; Hercules Gasoline Co. v. Commissioner, 5 Cir., 1945, 147 F. 2d 972, affirmed 326 U.S. 425, 66 S.Ct. 222, 90 L.Ed. 177, rehearing denied 326 U.S. 812, 66 S.Ct. 471, 90 L.Ed. 496. The decision of the Tax Court is
Affirmed.
Cases With Similar Vibessemantic neighbors from the corpus
Citator
Authorities Cited
- United States v. S. Ga. Ry. Co., 107 F.2d 3 (5th Cir. 1939)
- Hercules Gasoline Co., Inc. v. Commissioner of Internal Revenue, 326 U.S. 425 (U.S. 1945)
- Staked Plains Tr. v. Commissioner of Internal Revenue, 143 F.2d 421 (5th Cir. 1944)
- Hercules Gasoline Co., Inc. v. Commissioner of Internal Revenue, 147 F.2d 972 (5th Cir. 1945)
- Hercules Gasoline Co., Inc. v. Commissioner of Internal Revenue, 326 U.S. 812 (U.S. 1946)
- Sabin v. Home Owners' Loan Corp., 326 U.S. 812 (U.S. 1946)