Scientific Instrument Co. v. Commissioner
United States Tax Court
Pursuant to written agreement a predecessor corporation transferred on December 30, 1936, to petitioner, a newly organized corporation, all its assets as consideration for 75,000 shares of stock of petitioner and certain warrants to purchase additional stock.
Read the full summary
Pursuant to written agreement a predecessor corporation transferred on December 30, 1936, to petitioner, a newly organized corporation, all its assets as consideration for 75,000 shares of stock of petitioner and certain warrants to purchase additional stock. Held, petitioner acquired the assets as the result of a tax free reorganization within the meaning of section 112 (g) (1) (C), Revenue Act of 1936, since the predecessor corporation was "in control" of petitioner "immediately after the transfer." Held, further, that the date of completion of the sale of additional stock by petitioner to…
1Opinion of the Court
OPINION.
Tietjens, Judge:
The question to be decided is whether or not respondent was correct in determining that petitioner acquired the assets here involved as the result of a tax free reorganization within the meaning of section 112 (g) of the Revenue Act of 1936. Respondent’s position, on brief, is that the transaction in which petitioner acquired the assets qualifies as a tax free reorganization under either clause (B) or clause (C) of section 112 (g) (1) of that Act.1
Because we think the transaction is governed by blause (C) we will make no disposition of respondent’s contention with…
2Cases cited3 opinions
- American Bantam Car Co. v. CommissionerUnited States Tax Court · 1948
- Marsh v. CommissionerUnited States Tax Court · 1949
- S. Klein on The Square, Inc. v. CommissionerUnited States Tax Court · 1950
3Cited by25 opinions
- Palmer v. CommissionerUnited States Tax Court · 1974
- Anthony Theophilos Patricia A. Theophilos v. Commissioner Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1996
- Carpenter v. CommissionerUnited States Tax Court · 1953
- Farr v. CommissionerUnited States Tax Court · 1955
- Commissioner of Internal Revenue v. National Bellas Hess, Inc.Court of Appeals for the Eighth Circuit · 1955
20 more not listed; retrieve them via the Exa API.