Timken v. Commissioner
United States Board of Tax Appeals
1. In 1914 the decedent received a property dividend consisting of shares of stock of the Timken-Detroit Axle Co. The fair market value of the shares received was not reported as taxable income of 1914. In 1935 the decedent sold some of the shares at a price less than their fair market value at the date of receipt.
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1. In 1914 the decedent received a property dividend consisting of shares of stock of the Timken-Detroit Axle Co. The fair market value of the shares received was not reported as taxable income of 1914. In 1935 the decedent sold some of the shares at a price less than their fair market value at the date of receipt. Held, that the total proceeds of the sales in 1935 constituted taxable income. 2. In 1933 the decedent acquired convertible trust bonds of the Chesapeake Corporation. These bonds entitled the owner to convert them into shares of stock of the Chesapeake & Ohio Railway Co. In 1936…
1Opinion of the Court
ESTATE OF H. H. TIMKEN, DECEASED, MRS. EDITH K. TIMKEN, COEXECUTRIX, AND W. ROBERT TIMKEN AND HENRY H. TIMKEN, JR., CO-EXECUTORS, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Timken v. Commissioner
Docket No. 107603.
United States Board of Tax Appeals
47 B.T.A. 494; 1942 BTA LEXIS 681;
August 11, 1942, Promulgated
1. In 1914 the decedent received a property dividend consisting of shares of stock of the Timken-Detroit Axle Co. The fair market value of the shares received was not reported as taxable income of 1914. In 1935 the decedent sold some of the shares at a price less than…
2Cases cited19 opinions
- Helvering v. HorstSupreme Court of the United States · 1940
- Blair v. CommissionerSupreme Court of the United States · 1937
- Harrison v. SchaffnerSupreme Court of the United States · 1941
- Helvering v. EubankSupreme Court of the United States · 1941
- General Utilities & Operating Co. v. HelveringSupreme Court of the United States · 1935
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