Newblock Oil Co. v. Commissioner
United States Board of Tax Appeals
The petitioner, incorporated under the laws of the State of Texas on April 19, 1922, became affiliated on that date with the Newblock Oil Company, a Delaware corporation, which was organized in 1920 and on April 19, 1922, acquired the entire stock of the petitioner in consideration of the transfer to it of certain Texas property which was thereafter owned and operated by the petitioner to December 31, 1922, and from which it realized a net income during said period.
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The petitioner, incorporated under the laws of the State of Texas on April 19, 1922, became affiliated on that date with the Newblock Oil Company, a Delaware corporation, which was organized in 1920 and on April 19, 1922, acquired the entire stock of the petitioner in consideration of the transfer to it of certain Texas property which was thereafter owned and operated by the petitioner to December 31, 1922, and from which it realized a net income during said period. The Delaware corporation operated at a net loss in 1921 and also during 1922 prior to the date of affiliation, and also from…
1Opinion of the Court
NEWBLOCK OIL COMPANY OF TEXAS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Newblock Oil Co. v. Commissioner
Docket No. 28045.
United States Board of Tax Appeals
26 B.T.A. 696; 1932 BTA LEXIS 1267;
July 25, 1932, Promulgated
The petitioner, incorporated under the laws of the State of Texas on April 19, 1922, became affiliated on that date with the Newblock Oil Company, a Delaware corporation, which was organized in 1920 and on April 19, 1922, acquired the entire stock of the petitioner in consideration of the transfer to it of certain Texas property which was thereafter owned and…
2Cases cited2 opinions
- Newblock Oil Co. of Texas v. CommissionerUnited States Board of Tax Appeals · 1932
- Newblock Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1932