Braunstein v. Commissioner of Internal Revenue (371 U.S. 933)/Opinion of the Court

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.