Braunstein Et Al. v. Commissioner of Internal Revenue
371 U.S. 933
SCOTUS1962Check TreatmentPetition 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, 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 t'o capital gains treatment had they conducted the enterprise in their individual capacities without utilizing a corporation.”