Stanton Corp. v. Commissioner
United States Board of Tax Appeals
1. Where petitioner did not own substantially all of the stock of any other corporation, and its income consisted exclusively of interest, dividends, and gains from the sale of securities and during the taxable years this income was used principally to purchase additional securities and to make loans to another holding corporation whose stock was owned by a family of three persons who also owned all of the stock of petitioner, held, petitioner was a "mere holding or…
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1. Where petitioner did not own substantially all of the stock of any other corporation, and its income consisted exclusively of interest, dividends, and gains from the sale of securities and during the taxable years this income was used principally to purchase additional securities and to make loans to another holding corporation whose stock was owned by a family of three persons who also owned all of the stock of petitioner, held, petitioner was a "mere holding or investment company" as that phrase is used in section 104(b), Revenue Acts of 1928 and 1932. 2. Where on December 31, 1930,…
1Opinion of the Court
*73OPINION.
Black :
The sole issue for us to decide in this proceeding is whether petitioner is subject to taxation under section 104 of the Bevenue Acts of 1928 and 1932. The material provisions of both acts are identical and are printed in the margin.1
The applicable regulations are articles 541, 542, and 543 of Begu-lations 74 and 77, respectively, as they were promulgated on February 15, 1929, and February 10, 1933, respectively. These articles in both regulations are identical, with the exception of two instances which are not material here. Articles 541, 542, and 543 of Begulations 74, in so…
2Cases cited8 opinions
- Helvering v. National Grocery Co.Supreme Court of the United States · 1938
- United States v. PhellisSupreme Court of the United States · 1921
- Burnet v. ClarkSupreme Court of the United States · 1932
- Burnet v. Commonwealth Improvement Co.Supreme Court of the United States · 1932
- Koshland v. HelveringSupreme Court of the United States · 1936
3 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Factories Inv. Corp. v. CommissionerUnited States Tax Court · 1963
- Rhombar Co. v. CommissionerUnited States Tax Court · 1966
- Inland Terminals, Inc. v. United StatesCourt of Appeals for the Fourth Circuit · 1973
- Wilcox Mfg. Co. v. CommissionerUnited States Tax Court · 1979
- Cal. Motor Transp. Co. v. Comm'rUnited States Tax Court · 1943
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