The opinion
Leech:,
dissenting: I think the distribution in redemption of stock, upon which that part of the tax deficiency arose involved in the first issue here, occurred at “ such time and in such manner ” as to make it “ essentially equivalent to the distribution of a taxable dividend ”, and that it was therefore taxable within section 115 (g) of the Revenue Act of 1928.
Black, SteRNhageN, and TukNer agree with this dissent.