Amalgamated Products Co. v. Commissioner
United States Board of Tax Appeals
(1) The ability, skill and experience of certain incorporators of a corporation which had no predecessor, held not to constitute good will. (2) Certain services and contracts held not to have been paid in for capital stock. (3) Respondent's action in reducing invested capital by the amount of taxes for previous years prorated from the due date of each installment approved.
Read the full summary
(1) The ability, skill and experience of certain incorporators of a corporation which had no predecessor, held not to constitute good will. (2) Certain services and contracts held not to have been paid in for capital stock. (3) Respondent's action in reducing invested capital by the amount of taxes for previous years prorated from the due date of each installment approved. Russel Wheel & Foundry Co.,3 B.T.A. 1168. (4) Refusal to compute profits taxes under sections 327 and 328 of the Revenue Act of 1918 approved.
1Opinion of the Court
AMALGAMATED PRODUCTS CO., INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Amalgamated Products Co. v. Commissioner
Docket No. 11545.
United States Board of Tax Appeals
12 B.T.A. 659; 1928 BTA LEXIS 3491;
June 15, 1928, Promulgated(1) The ability, skill and experience of certain incorporators of a corporation which had no predecessor, held not to constitute good will.(2) Certain services and contracts held not to have been paid in for capital stock.(3) Respondent's action in reducing invested capital by the amount of taxes for previous years prorated from the due date of each…
2Cases cited2 opinions
- Russel Wheel & Foundry Co. v. CommissionerUnited States Board of Tax Appeals · 1926
- Amalgamated Products Co. v. CommissionerUnited States Board of Tax Appeals · 1928