Feeders Supply Co. v. Commissioner
United States Board of Tax Appeals
1. Under the facts of this proceeding, held that during the year 1917, petitioner was engaged in a trade or business having an invested capital which was more than a nominal capital, and is therefore not entitled to have its profits tax for that year computed under the provisions of section 209 of the Revenue Act of 1917. 2. Certain notes held not to have been bona fide paid in for stock or shares, under section 326(a) of the Revenue Act of 1918.
1Opinion of the Court
FEEDERS SUPPLY CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Feeders Supply Co. v. Commissioner
Docket No. 7606.
United States Board of Tax Appeals
8 B.T.A. 839; 1927 BTA LEXIS 2790;
October 17, 1927, Promulgated
1. Under the facts of this proceeding, held that during the year 1917, petitioner was engaged in a trade or business having an invested capital which was more than a nominal capital, and is therefore not entitled to have its profits tax for that year computed under the provisions of section 209 of the Revenue Act of 1917.
2. Certain notes held not to have been bona fide…
2Cases cited1 opinion
- Feeders Supply Co. v. CommissionerUnited States Board of Tax Appeals · 1927