Case Name: Braunstein et al. v. Commissioner of Internal Revenue
Court: Supreme Court of the United States
Jurisdiction: United States
Decision Date: 1962-12-10
Citations: 371 U.S. 933
Docket Number: No. 476
Parties: Braunstein et al. v. Commissioner of Internal Revenue.
Judges: 
Reporter: United States Reports
Volume: 371
Pages: 933–933

Head Matter:
No. 476.
Braunstein et al. v. Commissioner of Internal Revenue.
Thurman Arnold, Louis Eisenstein and Julius M. Greisman for petitioners.
Solicitor General Cox, Acting Assistant Attorney General Jones and Harry Baum for respondent.

Opinion:
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, 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."