Behles v. Commissioner
United States Board of Tax Appeals
In 1913 the petitioner entered into an agreement to purchase stock in the A. D. Shoup Co. from A. D. Shoup for $21,550. The seller was not obligated to deliver the stock to the petitioner until the purchase price was fully paid out of dividends derived from the same stock and the petitioner was expressly relieved from any liability to pay otherwise.
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In 1913 the petitioner entered into an agreement to purchase stock in the A. D. Shoup Co. from A. D. Shoup for $21,550. The seller was not obligated to deliver the stock to the petitioner until the purchase price was fully paid out of dividends derived from the same stock and the petitioner was expressly relieved from any liability to pay otherwise. The purchase price was fully paid from dividends in 1914. In the agreement there was reserved to the seller or the A. D. Shoup Co. the right to purchase, at book value, the same stock interest in the event the petitioner ceased to be employed by…
1Opinion of the Court
N. G. BEHLES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Behles v. Commissioner
Docket No. 46557.
United States Board of Tax Appeals
30 B.T.A. 1208; 1934 BTA LEXIS 1207;
July 19, 1934, Promulgated
In 1913 the petitioner entered into an agreement to purchase stock in the A. D. Shoup Co. from A. D. Shoup for $21,550. The seller was not obligated to deliver the stock to the petitioner until the purchase price was fully paid out of dividends derived from the same stock and the petitioner was expressly relieved from any liability to pay otherwise. The purchase price was fully paid from…
2Cases cited1 opinion
- Behles v. CommissionerUnited States Board of Tax Appeals · 1934