Supreme Court of the United States December 5, 1938, 304 (Helvering v. Chester N. Weaver Co.)

MR. Justice Stone

delivered .the opinion of the Court.

The question to be decided is whether payments received by a corporation as a stockholder in another corporation, upon the latter’s complete liquidation, are to be treated as payments upon a sale or exchange of the stock under § 23 (r) (1) of the Revenue Act of 1932, 47 Stat.