Legal Opinion
Crossett Western Co. v. Commissioner of Internal Revenue
Court of Appeals for the Third Circuit
Decided April 26, 1946No. 8987PublishedCited by 7 opinions
1Opinion of the Court
McLAUGHLIN, Circuit Judge.
From the facts stipulated before the Tax Court, it appears that the petitioner is a Delaware corporation organized in 1923. In a nontaxable reorganization it acquired the net assets of three corporations in exchange for its own stock. Those assets were taken over under the internal revenue laws without recognition of gain or loss. The bases of such assets to the petitioner were the same as to the three corporations. Under Commissioner v. San-some, 2 Cir., 60 F.2d 931, certiorari denied 287 U.S. 667, 53 S.Ct. 291, 77 L.Ed. 575, the earnings and profits of the original…
2Cases cited7 opinions
- United States v. American Trucking AssociationsSupreme Court of the United States · 1940
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Lynch v. Alworth-Stephens Co.Supreme Court of the United States · 1925
- Harrison v. Northern Trust Co.Supreme Court of the United States · 1943
- Commissioner v. Estate of BedfordSupreme Court of the United States · 1945
2 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Morris Investment Corp. v. Commissioner of Int. Rev.Court of Appeals for the Third Circuit · 1946
- Commissioner v. PhippsCourt of Appeals for the Tenth Circuit · 1948
- France Packing Co. v. DaileyCourt of Appeals for the Third Circuit · 1948
- Morristown Trust Co. v. ManningDistrict Court, D. New Jersey · 1951
- Stratton Grain Co. v. ReisimerDistrict Court, E.D. Wisconsin · 1958
2 more not listed; retrieve them via the Exa API.