Legal Opinion
Commissioner v. Coastwise Transp. Corp.
Court of Appeals for the First Circuit
Decided December 17, 1932No. 2692PublishedCited by 12 opinions
1Opinion of the Court
WILSON, Circuit Judge.
This is a petition for review of a decision of the Board of Ta.x Appeals holding that there was no taxable income derived from the purchase by the corporation of its outstanding bonds or notes at loss than the amount at which they were issued. The facts were agreed to and were summarized by the Board as follows:
“Coastwise Transportation Corporation, the petitioner, is a corporation organized under the laws of the State of Maine, and has a usual place of business at 100 Milk Street, Boston, Massachusetts.
“The petitioner acquired a fleet of ships from American Hawaiian…
2Cases cited2 opinions
- United States v. Kirby Lumber CoSupreme Court of the United States · 1931
- Bowers v. Kerbaugh-Empire Co.Supreme Court of the United States · 1926
3Cited by12 opinions
- Commissioner of Int. Rev. v. Coastwise Transp. Corp.Court of Appeals for the First Circuit · 1934
- Fifth Avenue-Fourteenth Street Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1945
- Southwest Grease & Oil Co., Inc. v. United StatesCourt of Appeals for the Tenth Circuit · 1971
- Bridgeport Hydraulic Co. v. CommissionerUnited States Tax Court · 1954
- Commissioner of Internal Revenue v. American Chicle Co.Court of Appeals for the Second Circuit · 1933
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