Legal Opinion
GUR Co. v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided January 17, 1941No. 7398PublishedCited by 47 opinions
1Opinion of the Court
SPARKS, Circuit Judge.
Appellant petitioned for review of a proposed deficiency in income tax liability for the year 1934. The deficiency was due to reduction in a capital loss sustained on the sale of 300 shares of American Superpower Company stock. Respondent, under Section 45 of the Revenue Act of 1934, 26 U.S.C.A. Int.Rev.Code § 45, 1 made his determination on the basis that the stock had been acquired from a company under common control with petitioner. The Board of Tax Appeals sustained the respondent’s ruling, and determined petitioner’s income tax for 1934 to be $2,713.59.
The question…
2Cases cited3 opinions
- Asiatic Petroleum Co. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1935
- Heiner v. Diamond Alkali Co.Supreme Court of the United States · 1933
- Heiner, Collector of Internal Revenue, v. Diamond Alkali Co.Supreme Court of the United States · 1933
3Cited by47 opinions
- Lemmen v. CommissionerUnited States Tax Court · 1981
- Ach v. CommissionerUnited States Tax Court · 1964
- Commissioner of Internal Revenue v. Chelsea Products, IncCourt of Appeals for the Third Circuit · 1952
- National Securities Corp. v. Com'r of Internal RevenueCourt of Appeals for the Third Circuit · 1943
- Ballentine Motor Co. v. CommissionerUnited States Tax Court · 1962
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