Anheuser-Busch, Inc. v. Commissioner
United States Board of Tax Appeals
1. Where corporation A agreed with B to transfer all the assets of A's subsidiary M to B, with the privilege on the part of B to organize a subsidiary to hold the transferred property, held, since B availed itself of the privilege it was not a party to the reorganization and its securities, delivered to M or A were "other property" and resulted in recognizable gain under section 112, Revenue Act of 1928. Groman v. Commissioner,302 U.S. 82. 2. Payment of transferor's…
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1. Where corporation A agreed with B to transfer all the assets of A's subsidiary M to B, with the privilege on the part of B to organize a subsidiary to hold the transferred property, held, since B availed itself of the privilege it was not a party to the reorganization and its securities, delivered to M or A were "other property" and resulted in recognizable gain under section 112, Revenue Act of 1928. Groman v. Commissioner,302 U.S. 82. 2. Payment of transferor's indebtedness made as part of consideration for transfer of assets, held, recognizable in computing gain. United States v.…
1Opinion of the Court
*1105OPINION.
Oppee :
It is assumed by the parties that the agreement between Anheuser-Busch (petitioner) and Borden contained a “plan of reorganization” within the meaning of section 112 (i) (1) (A) of the Revenue Act of 1928. John A. Nelson Co. v. Helvering, 296 U. S. 374; see Groman v. Commissioner, 302 U. S. 82; but cf. Bus & Transport Securities Corporation v. Helvering, 296 U. S. 391. There remains to be considered the issue actually litigated in this proceeding, namely, whether Borden was a “party to a reorganization” within the meaning of section 112 (g) so that its securities, when…
2Cases cited6 opinions
- Minnesota Tea Co. v. HelveringSupreme Court of the United States · 1938
- Groman v. CommissionerSupreme Court of the United States · 1937
- United States v. HendlerSupreme Court of the United States · 1938
- John A. Nelson Co. v. HelveringSupreme Court of the United States · 1935
- Helvering v. BashfordSupreme Court of the United States · 1938
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- Anheuser-Busch, Inc. v. HelveringCourt of Appeals for the Eighth Circuit · 1940
- Hearst Corp. v. United StatesUnited States Court of Federal Claims · 1993
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