San Joaquin Fruit & Inv. Co. v. Commissioner
United States Board of Tax Appeals
1. Where a deficiency notice is sent to a corporation and its transferee files a petition from the notice, designating itself as the successor of the transferor corporation through change of name only, the Board has jurisdiction to hear the proceeding.
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1. Where a deficiency notice is sent to a corporation and its transferee files a petition from the notice, designating itself as the successor of the transferor corporation through change of name only, the Board has jurisdiction to hear the proceeding. Burnet v. San Joaquin Fruit & Investment Co., 52 Fed.(2d) 123, followed. 2. Where property is acquired after February 28, 1913, by a lessee through the exercise of an option in the lease to purchase the leased property, the basis to the purchaser for invested capital, determining gains or losses on sales, and computing exhaustion on the assets…
1Opinion of the Court
OPINION.
Seawell:
These proceedings were consolidated for hearing and report, and involve the redetermination of deficiencies in income and excess profits taxes for 1920 and 1921 in the respective amounts of $22,872.09 and $21,867.40; deficiencies of $58,422.79, $2,898.43, $10,965.80, $17,663.58, $20,177.14, and $3,061.39 in income taxes for 1922, 1924, 1925, 1926, 1927, and 1928, respectively; and the liability of the petitioner as a transferee for unpaid income and excess profits taxes of the San Joaquin Fruit Co. for 1921 in the amount of $21,867.40.
At the threshold we are confronted with a…
2Cases cited19 opinions
- Miles v. Safe Deposit & Trust Co. of BaltimoreSupreme Court of the United States · 1922
- Blair v. Oesterlein MacHine Co.Supreme Court of the United States · 1927
- Richardson v. HardwickSupreme Court of the United States · 1882
- Smith v. BanghamCalifornia Supreme Court · 1909
- Peoples Street Ry. Co. v. SpencerSupreme Court of Pennsylvania · 1893
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3Cited by4 opinions
- Skaneateles Paper Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Aetna Casualty and Surety Co. v. United StatesDistrict Court, D. Connecticut · 1975
- San Joaquin Fruit & Inv. Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- San Joaquin Fruit & Investment Co. v. CommissionerCourt of Appeals for the Ninth Circuit · 1936