Macy v. Commissioner
United States Tax Court
1. The petitioner was engaged in the development of new business ventures and the organization and promotion of various corporations. In 1929 and 1930 he became interested in the development of a company for the manufacture of fountain pens and invested substantial amounts of money in this company.
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1. The petitioner was engaged in the development of new business ventures and the organization and promotion of various corporations. In 1929 and 1930 he became interested in the development of a company for the manufacture of fountain pens and invested substantial amounts of money in this company. During the period 1932 to 1936 he advanced various amounts to the company aggregating $550,000. These amounts were carried on the books of the pen company and on petitioner's books as loans on open account. Petitioner made these advances in the hope and belief that the pen company would be a…
1Opinion of the Court
Valentine E. Macy, Jr. v. Commissioner.
Macy v. Commissioner
Docket No. 15747.
United States Tax Court
1949 Tax Ct. Memo LEXIS 291; 8 T.C.M. (CCH) 45; T.C.M. (RIA) 49009;
January 18, 1949
1. The petitioner was engaged in the development of new business ventures and the organization and promotion of various corporations. In 1929 and 1930 he became interested in the development of a company for the manufacture of fountain pens and invested substantial amounts of money in this company. During the period 1932 to 1936 he advanced various amounts to the company aggregating $550,000. These amounts were…
2Cases cited6 opinions
- Halle v. CommissionerUnited States Tax Court · 1946
- Campbell v. CommissionerUnited States Tax Court · 1948
- Brown v. . SpohrNew York Court of Appeals · 1904
- Crater v. . BiningerNew York Court of Appeals · 1871
- Edward Katzinger Co. v. CommissionerUnited States Board of Tax Appeals · 1941
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