Bessemer Limestone & Cement Co. v. Commissioner
United States Tax Court
Petitioner received assets in an exchange incident to a 77-B reorganization pursuant to which petitioner was revived to take over and continue the business of The Bessemer Limestone and Cement Company, a Delaware corporation, which transaction constituted a tax-free exchange pursuant to section 112(b)(5) of the Revenue Act of 1934. Held: (1) This Court is without jurisdiction to consider petitioner's income tax liability for 1942 as respondent determined no deficiency in…
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Petitioner received assets in an exchange incident to a 77-B reorganization pursuant to which petitioner was revived to take over and continue the business of The Bessemer Limestone and Cement Company, a Delaware corporation, which transaction constituted a tax-free exchange pursuant to section 112(b)(5) of the Revenue Act of 1934. Held: (1) This Court is without jurisdiction to consider petitioner's income tax liability for 1942 as respondent determined no deficiency in such tax for that year. (2) Similarly, the issue raised by petitioner with respect to respondent's alleged failure to allow…
1Opinion of the Court
The Bessemer Limestone and Cement Company v. Commissioner.
Bessemer Limestone & Cement Co. v. Commissioner
Docket No. 21667.
United States Tax Court
T.C. Memo 1956-250; 1956 Tax Ct. Memo LEXIS 44; 15 T.C.M. (CCH) 1277; T.C.M. (RIA) 56250;
November 13, 1956
Petitioner received assets in an exchange incident to a 77-B reorganization pursuant to which petitioner was revived to take over and continue the business of The Bessemer Limestone and Cement Company, a Delaware corporation, which transaction constituted a tax-free exchange pursuant to section 112(b)(5) of the Revenue Act of 1934.
Held: (1) This…
2Cases cited12 opinions
- Helvering v. Cement Investors, Inc.Supreme Court of the United States · 1942
- C. D. Johnson Lumber Corp. v. CommissionerUnited States Tax Court · 1949
- California Vegetable Concentrates, Inc. v. CommissionerUnited States Tax Court · 1948
- Difco Laboratories, Inc. v. CommissionerUnited States Tax Court · 1948
- Reo Motors, Inc. v. CommissionerSupreme Court of the United States · 1950
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