U.S. Court of Appeals for the Fifth Circuit, 1959

Unitex Industries, Inc. v. Commissioner of Internal Revenue

U.S. Court of Appeals for the Fifth Circuit · Decided May 21, 1959 · Rives, Cameron, Jones

267 F.2d 40; 3 A.F.T.R.2d (RIA) 1485; 1959 U.S. App. LEXIS 3829 (Federal Reporter, Second Series)

Counsel

Wentworth T. Durant, Robert J. Hobby, Dallas, Tex., for petitioner., George W. Beatty, Harry Baum, Lee A. Jackson, Attys., Dept, of Justice, Charles Owen Johnson, Sp. Atty., I.R.S., Arch M. Cantrall, Chief Counsel, I.R.S., Washington, D. C., Charles K. Rice, Asst. Atty. Gen., for respondent.

Cases that cite this one

2 later published cases cite this decision.

Dixon v. Commissioner (United States Tax Court 1991)
Raleigh Properties, Inc. v. Commissioner (United States Tax Court 1962)

This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.

Opinion

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 *41 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.

Case-law data current through December 31, 2025. Source: CourtListener bulk data.