Southern Cal. Rock & Gravel Co. v. Commissioner
United States Board of Tax Appeals
The petitioners exchanged property for stock before Dec. 31, 1920. Held that the basis for computing profit upon sale of the stock is the fair market value of the property exchanged therefor.
1Opinion of the Court
*299OPINION.
Lansdon :
The proceeding at Docket No. 28776 was brought by the Pacific Company through its statutory trustee, W. L. Hodges. At the hearing counsel for the respondent suggested the death of Hodges and moved to dismiss the appeal for lack of jurisdiction, on the ground that no successor trustee had been appointed. Counsel for the petitioner then moved to substitute Agnes Wiley Hodges, Executrix of the estate of W. L. Hodges.
The deficiency notice was addressed to the Pacific Company, W. L. Hodges, Trustee, and the petition was filed by Hodges, acting for the corporation. Upon filing of…
2Cases cited2 opinions
- Richardson v. ShawSupreme Court of the United States · 1908
- Galbraith v. McDonaldSupreme Court of Minnesota · 1913
3Cited by6 opinions
- Webb v. CommissionerUnited States Tax Court · 1994
- Browning v. CommissionerUnited States Tax Court · 1974
- Graham v. CommissionerUnited States Board of Tax Appeals · 1932
- McCabe v. CommissionerUnited States Tax Court · 1985
- Southern Cal. Rock & Gravel Co. v. CommissionerUnited States Board of Tax Appeals · 1932
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