Lashar v. Commissioner
United States Board of Tax Appeals
1. In the recapitalization of a corporation in 1923 the petitioner received 125,000 shares of class A stock and 250,000 shares of new no par common stock in exchange for 100,000 shares of old no par common stock, and later in 1923 sold the 125,000 shares of class A and 20,000 shares of the new no par common stock for $2,250,000 cash.
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1. In the recapitalization of a corporation in 1923 the petitioner received 125,000 shares of class A stock and 250,000 shares of new no par common stock in exchange for 100,000 shares of old no par common stock, and later in 1923 sold the 125,000 shares of class A and 20,000 shares of the new no par common stock for $2,250,000 cash. Held, that the basis for computing gain or loss on the sale is the cost of the 100,000 shares of old no par common stock properly apportioned to the shares sold. 2. The petitioner had in his employ E. F. von Wettberg. Beginning in 1913, the petitioner advanced…
1Opinion of the Court
WALTER B. LASHAR, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Lashar v. Commissioner
Docket No. 37883.
United States Board of Tax Appeals
34 B.T.A. 768; 1936 BTA LEXIS 648;
July 10, 1936, Promulgated
1. In the recapitalization of a corporation in 1923 the petitioner received 125,000 shares of class A stock and 250,000 shares of new no par common stock in exchange for 100,000 shares of old no par common stock, and later in 1923 sold the 125,000 shares of class A and 20,000 shares of the new no par common stock for $2,250,000 cash. Held, that the basis for computing gain or loss on…
2Cases cited10 opinions
- Helvering v. WattsSupreme Court of the United States · 1935
- Edison Sec. Corp. v. CommissionerUnited States Board of Tax Appeals · 1933
- Ward v. CommissionerUnited States Board of Tax Appeals · 1934
- Liquidating Co. v. CommissionerUnited States Board of Tax Appeals · 1936
- Swiss Oil Corp. v. CommissionerUnited States Board of Tax Appeals · 1935
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