Valuation Service Co. v. Commissioner
United States Board of Tax Appeals
Petitioner's sole indirect stockholder being an insolvent bank the real estate holdings of which were carried in petitioner's name, and liquidation of petitioner's assets under supervision of the state superintendent of banks being for the benefit of the bank's depositors, held, petitioner is exempt from tax to the same extent as the bank. Act of Congress of March 1, 1879, sec. 22 (20 Stat. 351); Revenue Act of 1938, sec. 818.
1Opinion of the Court
THE VALUATION SERVICE COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Valuation Service Co. v. Commissioner
Docket No. 96373.
United States Board of Tax Appeals
41 B.T.A. 811; 1940 BTA LEXIS 1140;
April 11, 1940, Promulgated
Petitioner's sole indirect stockholder being an insolvent bank the real estate holdings of which were carried in petitioner's name, and liquidation of petitioner's assets under supervision of the state superintendent of banks being for the benefit of the bank's depositors, held, petitioner is exempt from tax to the same extent as the bank. Act of Congress…
2Cases cited1 opinion
- Valuation Service Co. v. CommissionerUnited States Board of Tax Appeals · 1940