Independent Oil Co. v. Commissioner
United States Board of Tax Appeals
Petitioner, a corporation, exchanged assets for all the stock of a new corporation and, pursuant to a plan of reorganization, exchanged 75 percent of that stock for stock of a third corporation. Held, that these transactions constituted a nontaxable reorganization.
1Opinion of the Court
INDEPENDENT OIL COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Independent Oil Co. v. Commissioner
Docket No. 67700.
United States Board of Tax Appeals
35 B.T.A. 32; 1936 BTA LEXIS 572;
November 5, 1936, Promulgated
Petitioner, a corporation, exchanged assets for all the stock of a new corporation and, pursuant to a plan of reorganization, exchanged 75 percent of that stock for stock of a third corporation. Held, that these transactions constituted a nontaxable reorganization.
S. Leo Ruslander, Esq., and R. J. Cleary, Esq., for petitioner.
Dean P. Kimball, Esq., for the…
2Cases cited1 opinion
- Independent Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1936