Clock v. Commissioner
United States Board of Tax Appeals
1. The law partnership of which petitioners were members was retained by the Superintendent of Banks of California to perform legal services in connection with the liquidation of insolvent state banks.
Read the full summary
1. The law partnership of which petitioners were members was retained by the Superintendent of Banks of California to perform legal services in connection with the liquidation of insolvent state banks. Held, that the petitioners were not officers or employees of the State of California and that the compensation received by the partnership in 1938 for services performed by its members constitutes taxable income. 2. Under a plan of reorganization under section 77B of the Bankruptcy Act, the acquiring corporation issued all of its stock and assumed all of the liabilities, including outstanding…
1Opinion of the Court
JOHN G. CLOCK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
BLANCHE D. CLOCK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
MAUDE H. CLOCK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
RALPH H. CLOCK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Clock v. Commissioner
Docket Nos. 105848, 105849, 105850, 105851.
United States Board of Tax Appeals
46 B.T.A. 1065; 1942 BTA LEXIS 777;
May 6, 1942, Promulgated
1. The law partnership of which petitioners were members was retained by the Superintendent of Banks of California to perform legal…
2Cases cited2 opinions
- Helvering v. Southwest Consolidated Corp.Supreme Court of the United States · 1942
- Clock v. CommissionerUnited States Board of Tax Appeals · 1942