American Founders Corp. v. Commissioner
United States Board of Tax Appeals
Two of the petitioners, affiliated corporations, purchased stock of the parent and resold it at a price higher than the purchase price, but such stock dealings did not affect the affiliation. Held, that these transactions resulted in taxable gain. Commissioner v. Van Camp Packing Co., 67 Fed.(2d) 596, followed.
1Opinion of the Court
AMERICAN FOUNDERS CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
FOUNDERS GENERAL CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
AMERICAN FOUNDERS OFFICE BUILDING, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
AMERICAN FOUNDERS CORPORATION (TRANSFEREES), PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
American Founders Corp. v. Commissioner
Docket Nos. 59266-59268, 61048.
United States Board of Tax Appeals
30 B.T.A. 1256; 1934 BTA LEXIS 1197;
July 24, 1934, Promulgated
Two of the petitioners, affiliated…
2Cases cited1 opinion
- American Founders Corp. v. CommissionerUnited States Board of Tax Appeals · 1934