Bert v. Commissioner
United States Board of Tax Appeals
A trust which was organized by several individuals to buy and sell shares of stock of Sears, Roebuck & Co. for profit and was so operated during the taxable year, the profits being distributed to the beneficial owners, is an association taxable as a corporation. Morrissey v. Commissioner,296 U.S. 344; Swanson v. Commissioner,296 U.S. 362; Helvering v. Combs,296 U.S. 365; and Helvering v. Coleman-Gilbert Associates,296 U.S. 369.
1Opinion of the Court
OPINION.
Smith :
This proceeding is for the redetermination of a deficiency in income tax for 1928 in the amount of $19,388.01. The deficiency has been asserted against the petitioner as trustee for a syndicate which the respondent has held to be an association taxable as a corporation.
By a memorandum opinion entered October 7,1935, the Board held that petitioner was not an association taxable as a corporation for the year 1928 and entered its decision therein on November 5, 1935, in which it was:
Okdeke» and Decided that there is no deficiency due from the petitioner for the year 1928 but that…
2Cases cited5 opinions
- Morrissey v. CommissionerSupreme Court of the United States · 1935
- Hecht v. MalleySupreme Court of the United States · 1924
- Helvering v. Coleman-Gilbert AssociatesSupreme Court of the United States · 1935
- Swanson v. CommissionerSupreme Court of the United States · 1935
- Helvering v. CombsSupreme Court of the United States · 1935
3Cited by4 opinions
- Allen v. CommissionerUnited States Tax Court · 1991
- Bert v. CommissionerUnited States Board of Tax Appeals · 1936
- Cord v. CommissionerUnited States Board of Tax Appeals · 1938
- Del Mar Addition v. CommissionerUnited States Board of Tax Appeals · 1939