Warden v. Commissioner
United States Board of Tax Appeals
Where a corporation sells a part of its assets and the amount received therefor is paid directly to two stockholders owning all the stock except a single qualifying share, the transaction is a sale by the corporation and the profit realized, if any, is an element of its gross income.
1Opinion of the Court
FRANK G. WARDEN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
SEVERS HOTEL COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
W. B. NATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Warden v. Commissioner
Docket Nos. 32596, 36756, 38993.
United States Board of Tax Appeals
23 B.T.A. 24; 1931 BTA LEXIS 1937;
May 4, 1931, Promulgated
Where a corporation sells a part of its assets and the amount received therefor is paid directly to two stockholders owning all the stock except a single qualifying share, the transaction is a sale by the corporation and…
2Cases cited1 opinion
- Warden v. CommissionerUnited States Board of Tax Appeals · 1931