Legal Opinion
Bausch & Lomb Optical Company v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided May 19, 1959No. 239, Docket 25424PublishedCited by 7 opinions
1Opinion of the Court
MEDINA, Circuit Judge.
Petitioner Bausch & Lomb Optical Company, a New York corporation engaged in the manufacture and sale of ophthalmic products, on March 1, 1950 owned 9923% shares of the stock of its subsidiary Riggs Optical Company, or 79.9488'% of the 12,412 outstanding shares of Riggs. In order to effectuate certain operating economies, Bausch & Lomb decided to amalgamate Riggs with itself. To this end on April 22, 1950 Bausch & Lomb exchanged 105,508 shares of its unissued voting stock for all of the Riggs assets. An additional 433 shares of Bausch & Lomb stock went to 12 Riggs’…
2Cases cited7 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Minnesota Tea Co. v. HelveringSupreme Court of the United States · 1938
- Helvering v. Alabama Asphaltic Limestone Co.Supreme Court of the United States · 1942
- Helvering v. Southwest Consolidated Corp.Supreme Court of the United States · 1942
- Helvering v. BashfordSupreme Court of the United States · 1938
2 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Standard Linen Service, Inc. v. CommissionerUnited States Tax Court · 1959
- American Potash & Chemical Corporation v. The United StatesUnited States Court of Claims · 1968
- Commissioner of Internal Revenue v. Irving Gordon and Margaret Gordon, Irving Gordon and Margaret Gordon v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1967
- Everhart v. CommissionerUnited States Tax Court · 1982
- Commissioner of Internal Revenue v. Irving Gordon and Margaret Gordon, Irving Gordon and Margaret Gordon v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1967
2 more not listed; retrieve them via the Exa API.