Grigsby v. Commissioner
United States Board of Tax Appeals
Where taxpayer, because of the provisions of a certain "underwriting agreement" in which he participated as a principal, actually purchased his allocable part of the underwritten stock from the issuing corporation, held, the transaction was a mere purchase of the stock by the taxpayer and no loss was sustained upon such acquisition.
1Opinion of the Court
BERTRAM J. GRIGSBY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Grigsby v. Commissioner
Docket No. 76436.
United States Board of Tax Appeals
33 B.T.A. 568; 1935 BTA LEXIS 737;
November 26, 1935, Promulgated
Where taxpayer, because of the provisions of a certain "underwriting agreement" in which he participated as a principal, actually purchased his allocable part of the underwritten stock from the issuing corporation, held, the transaction was a mere purchase of the stock by the taxpayer and no loss was sustained upon such acquisition.
Edward H. McDermott, Esq., and Marvin P. Kahl,…
2Cases cited1 opinion
- Grigsby v. CommissionerUnited States Board of Tax Appeals · 1935