Bed Rock Petroleum Co. v. Commissioner
United States Board of Tax Appeals
The petitioner did not sustain a deductible loss upon the surrender to a corporation of a pro rata part of the preferred stock of the corporation for the purpose of cancellation and the removal of an operating deficit.
1Opinion of the Court
BED ROCK PETROLEUM COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Bed Rock Petroleum Co. v. Commissioner
Docket No. 54275.
United States Board of Tax Appeals
29 B.T.A. 118; 1933 BTA LEXIS 994;
October 17, 1933, Promulgated
The petitioner did not sustain a deductible loss upon the surrender to a corporation of a pro rata part of the preferred stock of the corporation for the purpose of cancellation and the removal of an operating deficit.
George M. Wolcott, Esq., for the petitioner.
Bernard D. Daniels, Esq., for the respondent.
SMITH
OPINION.
SMITH: This proceeding involves a…
2Cases cited1 opinion
- Bed Rock Petroleum Co. v. CommissionerUnited States Board of Tax Appeals · 1933