Hammond Iron Co. v. Commissioner
United States Board of Tax Appeals
Where a corporation in 1933 exchanged a portion of its assets for shares of its own capital stock, it sustained no loss deductible in computing its taxable net income. Helvering v. Reynolds Tobacco Co.,306 U.S. 110.
1Opinion of the Court
HAMMOND IRON COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Hammond Iron Co. v. Commissioner
Docket No. 89617.
United States Board of Tax Appeals
41 B.T.A. 86; 1940 BTA LEXIS 1237;
January 16, 1940, Promulgated
Where a corporation in 1933 exchanged a portion of its assets for shares of its own capital stock, it sustained no loss deductible in computing its taxable net income. Helvering v. Reynolds Tobacco Co.,306 U.S. 110.
E. L. All, Esq., and A. J. Bowron, Jr., Esq., for the petitioner.
Stanley B. Anderson, Esq., for the respondent.
HILL
OPINION.
HILL: Respondent determined a…
2Cases cited4 opinions
- Helvering v. R. J. Reynolds Tobacco Co.Supreme Court of the United States · 1939
- S. A. Woods Machine Co. v. CommissionerUnited States Board of Tax Appeals · 1930
- R. J. Reynolds Tobacco Co. v. CommissionerUnited States Board of Tax Appeals · 1937
- Hammond Iron Co. v. CommissionerUnited States Board of Tax Appeals · 1940