Legal Opinion
Emery v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided January 30, 1948No. 67, Docket 20713PublishedCited by 14 opinions
1Opinion of the Court
FRANK, Circuit Judge.
There are two issues which this court must decide: First, was there a taxable gain at all, under § 112(a) 2 of the Internal Revenue Code and Treasury Regulations III, § 29.111-1?3 Second, was the exchange one in which no gain was recognizable under §§ 112(b) (3) 4 and 112(g) (1) (E) 5 as an exchange of securities in pursuance of a plan of reorganization.
1. Under the statute and regulations, there will be a gain or loss realized on the exchange of property “for other property differing materially either in kind or in extent.” We think that here the new bonds did differ…
2Cases cited14 opinions
- Helvering v. Stockholms Enskilda BankSupreme Court of the United States · 1934
- Weiss v. StearnSupreme Court of the United States · 1924
- LeTulle v. ScofieldSupreme Court of the United States · 1940
- Helvering v. New York Trust Co.Supreme Court of the United States · 1934
- Helvering v. Morgan's, Inc.Supreme Court of the United States · 1934
9 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Century Electric Co. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1951
- San Antonio Savings Association and Subsidiaries v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1989
- Federal Nat'l Mortg. Asso. v. CommissionerUnited States Tax Court · 1988
- G.M. Trading Corp. v. CommissionerUnited States Tax Court · 1994
- Baker v. CommissionerUnited States Tax Court · 1962
9 more not listed; retrieve them via the Exa API.