Legal Opinion
Louis W. Gunby, Inc. v. Helvering
Court of Appeals for the D.C. Circuit
Decided June 16, 1941No. 7742PublishedCited by 6 opinions
1Opinion of the CourtGroner, C. J.
Section 112, Revenue Act of 1934, provides that: “No gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for stock or securities in such corporation, and immediately after the exchange such person or. persons are in control of the corporation; * * *.”1
And Section 113 provides, in circumstances covered by Section 112, that the basis for determining gain or loss — “shall be the same as it would be in the hands of the transferor, increased in the amount of gain or decreased in the amount of loss recognized to the transferor upon…
2Cases cited13 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- United States v. PhellisSupreme Court of the United States · 1921
- Weiss v. StearnSupreme Court of the United States · 1924
- Prairie Oil & Gas Co. v. MotterCourt of Appeals for the Tenth Circuit · 1933
- Supreme Lodge, Knights of Pythias v. MeyerSupreme Court of the United States · 1924
8 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Aqualane Shores, Inc. v. CommissionerUnited States Tax Court · 1958
- A. C. Burton & Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1951
- Theodore O. Wentworth and Shirley M. Wentworth v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1975
- Cowden v. CommissionerUnited States Tax Court · 1965
- A. C. Burton & Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1951
1 more not listed; retrieve them via the Exa API.