Dubois Lumber Co. v. Commissioner
United States Board of Tax Appeals
AFFILIATED CORPORATIONS. - The capital stock of the petitioner was held as follows: 2,100 shares by DuBois, 500 shares by Nettleton, and 400 shares by Welch. For his holdings Welch paid in assets of an undisputed value in excess of $32,000 and gave his note for the balance of $6,788.05 due on the stock, payable out of the dividends if and when declared by the petitioner.
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AFFILIATED CORPORATIONS. - The capital stock of the petitioner was held as follows: 2,100 shares by DuBois, 500 shares by Nettleton, and 400 shares by Welch. For his holdings Welch paid in assets of an undisputed value in excess of $32,000 and gave his note for the balance of $6,788.05 due on the stock, payable out of the dividends if and when declared by the petitioner. Neither Welch nor Nettleton held any interest whatever in the consolidated group of corporations with which affiliation is claimed. Held, petitioner is not affiliated with said group of corporations within the purview of…
1Opinion of the Court
DUBOIS LUMBER CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Dubois Lumber Co. v. Commissioner
Docket No. 27233.
United States Board of Tax Appeals
21 B.T.A. 114; 1930 BTA LEXIS 1921;
October 28, 1930, Promulgated
AFFILIATED CORPORATIONS. - The capital stock of the petitioner was held as follows: 2,100 shares by DuBois, 500 shares by Nettleton, and 400 shares by Welch. For his holdings Welch paid in assets of an undisputed value in excess of $32,000 and gave his note for the balance of $6,788.05 due on the stock, payable out of the dividends if and when declared by the…
2Cases cited2 opinions
- Continental Products Co. v. CommissionerUnited States Board of Tax Appeals · 1930
- Dubois Lumber Co. v. CommissionerUnited States Board of Tax Appeals · 1930