National Iron Works v. Commissioner
United States Board of Tax Appeals
Where in 1922 a national bank acquired at foreclosure sale the plant of an iron company and operated it until January 17, 1923, and where the bank caused to be organized under the laws of California a corporation to take over the plant, and where the organization of the corporation had proceeded no further in 1923 than the filing of the articles with the Secretary of State, and where no permit was secured authorizing the issuance of any stock until January, 1923, and where…
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Where in 1922 a national bank acquired at foreclosure sale the plant of an iron company and operated it until January 17, 1923, and where the bank caused to be organized under the laws of California a corporation to take over the plant, and where the organization of the corporation had proceeded no further in 1923 than the filing of the articles with the Secretary of State, and where no permit was secured authorizing the issuance of any stock until January, 1923, and where thereafter on January 17, 1923, the corporation acquired from the bank the property acquired by it at the foreclosure…
1Opinion of the Court
NATIONAL IRON WORKS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
National Iron Works v. Commissioner
Docket No. 36909.
United States Board of Tax Appeals
22 B.T.A. 382; 1931 BTA LEXIS 2128;
February 26, 1931, Promulgated
Where in 1922 a national bank acquired at foreclosure sale the plant of an iron company and operated it until January 17, 1923, and where the bank caused to be organized under the laws of California a corporation to take over the plant, and where the organization of the corporation had proceeded no further in 1923 than the filing of the articles with the Secretary…
2Cases cited1 opinion
- National Iron Works v. CommissionerUnited States Board of Tax Appeals · 1931