Hadley v. Commissioner
United States Tax Court
Petitioner transferred to a corporation a minor portion of the stock which it had issued. A part was transferred for cash prior to any decision by the corporation as to disposition of the stock. Transfer tax stamps were attached. After the transfer the corporation decided to, and did, hold the stock in its treasury for a few days.
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Petitioner transferred to a corporation a minor portion of the stock which it had issued. A part was transferred for cash prior to any decision by the corporation as to disposition of the stock. Transfer tax stamps were attached. After the transfer the corporation decided to, and did, hold the stock in its treasury for a few days. A few days later the officers decided to retire the stock, retirement was approved by the stockholders about two weeks later, and the stock was then retired, a certificate of retirement being filed with the secretary of state. Other stock was later, from time to…
1Opinion of the Court
Harold F. Hadley, Petitioner, v. Commissioner of Internal Revenue, Respondent
Hadley v. Commissioner
Docket No. 110063
United States Tax Court
1 T.C. 496; 1943 U.S. Tax Ct. LEXIS 249;
January 26, 1943, Promulgated
Decision will be entered under Rule 50.
Petitioner transferred to a corporation a minor portion of the stock which it had issued. A part was transferred for cash prior to any decision by the corporation as to disposition of the stock. Transfer tax stamps were attached. After the transfer the corporation decided to, and did, hold the stock in its treasury for a few days. A few days later…
2Cases cited1 opinion
- Hadley v. CommissionerUnited States Tax Court · 1943