Neville v. Commissioner
United States Board of Tax Appeals
When shares of stock in a corporation or an association are sold from lots purchased at different dates and at different prices and the identity of the shares sold can be determined from the certificates delivered, gain or loss must be computed upon the cost or other basis of the shares represented by the certificates delivered.
1Opinion of the Court
LOUIS G. NEVILLE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Neville v. Commissioner
Docket No. 64598.
United States Board of Tax Appeals
29 B.T.A. 450; 1933 BTA LEXIS 944;
November 24, 1933, Promulgated
When shares of stock in a corporation or an association are sold from lots purchased at different dates and at different prices and the identity of the shares sold can be determined from the certificates delivered, gain or loss must be computed upon the cost or other basis of the shares represented by the certificates delivered.
Loomis Patrick, Esq., for the petitioner.
C. A. Ray,…
2Cases cited1 opinion
- Neville v. CommissionerUnited States Board of Tax Appeals · 1933