Gravois Planing Mill Co. v. Commissioner
United States Tax Court
Held, that no portion of amounts paid by the corporation to attorneys as reimbursements and fees for services in connection with a recapitalization and partial liquidation of the corporation, or an amount paid for a certificate of title, have been shown to be deductible as ordinary and necessary business expenses of the corporation.
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Held, that no portion of amounts paid by the corporation to attorneys as reimbursements and fees for services in connection with a recapitalization and partial liquidation of the corporation, or an amount paid for a certificate of title, have been shown to be deductible as ordinary and necessary business expenses of the corporation. Standard Linen Service, Inc., 33 T.C. 1. Held, further, that the petitioner Beckemeier first acquired ownership of property distributed to him in the partial liquidation on March 2, 1954, and that he is not entitled to a depreciation deduction on such property for…
1Opinion of the Court
Gravois Planing Mill Company v. Commissioner. Charles A. and Florence Beckemeier v. Commissioner.
Gravois Planing Mill Co. v. Commissioner
Docket Nos. 67450, 67451.
United States Tax Court
T.C. Memo 1960-122; 1960 Tax Ct. Memo LEXIS 166; 19 T.C.M. (CCH) 639; T.C.M. (RIA) 60122;
June 9, 1960
Held, that no portion of amounts paid by the corporation to attorneys as reimbursements and fees for services in connection with a recapitalization and partial liquidation of the corporation, or an amount paid for a certificate of title, have been shown to be deductible as ordinary and necessary business…
2Cases cited10 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- United States v. RyersonSupreme Court of the United States · 1941
- Guggenheim v. RasquinSupreme Court of the United States · 1941
- Botz v. HelveringCourt of Appeals for the Eighth Circuit · 1943
- Mills Estate, Inc. v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. Mills Estate, IncCourt of Appeals for the Second Circuit · 1953
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