Coosa Land Co. v. Commissioner
United States Board of Tax Appeals
1. Fair market value of corporation stock acquired prior to March 1, 1913, determined. 2. Claim for credit on 1926 income tax obligation for the amount of an overassessment found for 1925 disallowed because of the statutory bar which petitioner failed to prove was avoided by the filing of a timely claim as required by section 284(a) and (b)(1) of the 1926 Act. 3. Petitioner's claim for a loss deductible from gross income in 1926 on its investment in Atlas Fertilizer…
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1. Fair market value of corporation stock acquired prior to March 1, 1913, determined. 2. Claim for credit on 1926 income tax obligation for the amount of an overassessment found for 1925 disallowed because of the statutory bar which petitioner failed to prove was avoided by the filing of a timely claim as required by section 284(a) and (b)(1) of the 1926 Act. 3. Petitioner's claim for a loss deductible from gross income in 1926 on its investment in Atlas Fertilizer Corporation stock denied, because of failure of proof showing the value of assets paid in for such stock. 4. A payment made by…
1Opinion of the Court
COOSA LAND COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Coosa Land Co. v. Commissioner
Docket Nos. 49470, 51250, 63121.
United States Board of Tax Appeals
29 B.T.A. 389; 1933 BTA LEXIS 945;
November 23, 1933, Promulgated
1. Fair market value of corporation stock acquired prior to March 1, 1913, determined.
2. Claim for credit on 1926 income tax obligation for the amount of an overassessment found for 1925 disallowed because of the statutory bar which petitioner failed to prove was avoided by the filing of a timely claim as required by section 284(a) and (b)(1) of the 1926…
2Cases cited1 opinion
- Coosa Land Co. v. CommissionerUnited States Board of Tax Appeals · 1933