Dauth v. Commissioner
United States Board of Tax Appeals
Where petitioners claim losses upon their investment in a wholly owned corporation and on a debt of the corporation upon dissolution thereof, all transactions with it are properly scrutinized and effect should be given to bona fide transactions only.
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Where petitioners claim losses upon their investment in a wholly owned corporation and on a debt of the corporation upon dissolution thereof, all transactions with it are properly scrutinized and effect should be given to bona fide transactions only. Two material transactions have been analyzed and upon the facts it is held, first, that effect should be given to a bona fide sale of a mortgage from one corporation to another, even though petitioners owned the stock of both; second, that a stock sale transaction between petitioners and the corporation, where petitioners sold stock at a price in…
1Opinion of the Court
WILHELMINA DAUTH, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
JOHN P. DAUTH, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Dauth v. Commissioner
Docket Nos. 96882, 96883.
United States Board of Tax Appeals
42 B.T.A. 1181; 1940 BTA LEXIS 887;
November 14, 1940, Promulgated
Where petitioners claim losses upon their investment in a wholly owned corporation and on a debt of the corporation upon dissolution thereof, all transactions with it are properly scrutinized and effect should be given to bona fide transactions only. Two material transactions have been analyzed and…
2Cases cited12 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Higgins v. SmithSupreme Court of the United States · 1940
- Griffiths v. CommissionerSupreme Court of the United States · 1939
- Burnet v. Commonwealth Improvement Co.Supreme Court of the United States · 1932
- Dalton v. BowersSupreme Court of the United States · 1932
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