Pennsylvania Co. for Ins. etc. v. Commissioner
United States Board of Tax Appeals
The effect of consolidation was to create a new corporation which is not entitled to deduct a net loss sustained by one of its predecessor corporations.
1Opinion of the Court
THE PENNSYLVANIA COMPANY FOR INSURANCES ON LIVES AND GRANTING ANNUITIES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Pennsylvania Co. for Ins. etc. v. Commissioner
Docket Nos. 64194, 64196.
United States Board of Tax Appeals
29 B.T.A. 1285; 1934 BTA LEXIS 1393;
February 28, 1934, Promulgated
The effect of consolidation was to create a new corporation which is not entitled to deduct a net loss sustained by one of its predecessor corporations.
Joseph A. Lamorelle, Esq., for the petitioner.
Chester A. Gwinn, Esq., for the respondent.
ARUNDELL
OPINION.
ARUNDELL: The respondent determined a…
2Cases cited1 opinion
- Pennsylvania Co. for Ins. etc. v. CommissionerUnited States Board of Tax Appeals · 1934