Court of Appeals for the Fourth Circuit March 28, 1961, 8212_1 (Arthur P. And Teresa Pomponio, Husband and Wife v. Commissioner of Internal Revenue)

HAYNSWORTH, Circuit Judge.

The taxpayer, Arthur Pomponio, received his pro rata part of substantial cash distributions made to their stockholders by corporations which had constructed and were operating housing projects. The distributed cash was generated by borrowed funds and rental receipts.