Woodard v. Commissioner
United States Board of Tax Appeals
1. In 1930 the Lamination Stamping Co., of which petitioners were stockholders, entered into a written agreement with the Allegheny Steel Co., pursuant to which the former corporation transferred its business and assets to the latter corporation in exchange for 5,000 shares of no par value common stock and $100,000 cash. The Lamination Co., in pursuance of the plan of reorganization, distributed the stock and cash pro rata among its stockholders and dissolved.
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1. In 1930 the Lamination Stamping Co., of which petitioners were stockholders, entered into a written agreement with the Allegheny Steel Co., pursuant to which the former corporation transferred its business and assets to the latter corporation in exchange for 5,000 shares of no par value common stock and $100,000 cash. The Lamination Co., in pursuance of the plan of reorganization, distributed the stock and cash pro rata among its stockholders and dissolved. Held, the transaction constituted a reorganization within the meaning of section 112(i)(1)(A) of the Revenue Act of 1928. 2. Held,…
1Opinion of the Court
JOHN S. WOODARD, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
MARJORIE C. LANGWORTHY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Woodard v. Commissioner
Docket Nos. 71961, 71962.
United States Board of Tax Appeals
30 B.T.A. 1216; 1934 BTA LEXIS 1203;
July 20, 1934, Promulgated
1. In 1930 the Lamination Stamping Co., of which petitioners were stockholders, entered into a written agreement with the Allegheny Steel Co., pursuant to which the former corporation transferred its business and assets to the latter corporation in exchange for 5,000 shares of no par value…
2Cases cited2 opinions
- Hill v. CommissionerUnited States Board of Tax Appeals · 1932
- Woodard v. CommissionerUnited States Board of Tax Appeals · 1934