Schweitzer & Conrad, Inc. v. Commissioner
United States Board of Tax Appeals
1. Transaction whereby one corporation in 1930 acquired all of the assets of another corporation in exchange for its entire issue of preferred stock, $1,000,000 in cash, and the assumption of liabilities of $90,127.89, held to be a statutory reorganization.
Read the full summary
1. Transaction whereby one corporation in 1930 acquired all of the assets of another corporation in exchange for its entire issue of preferred stock, $1,000,000 in cash, and the assumption of liabilities of $90,127.89, held to be a statutory reorganization. Nelson Co. v. Helvering,296 U.S. 374. 2. The basis of the acquiring corporation for depreciation and amortization of the assets acquired from its transferor held to be the basis in the hands of the transferor, under the provisions of section 113(a)(7) of the Revenue Act of 1932. 3. The word "transferor" used in section 113(a)(7) of the…
1Opinion of the Court
SCHWEITZER & CONRAD, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Schweitzer & Conrad, Inc. v. Commissioner
Docket No. 93464.
United States Board of Tax Appeals
41 B.T.A. 533; 1940 BTA LEXIS 1173;
March 5, 1940, Promulgated
1. Transaction whereby one corporation in 1930 acquired all of the assets of another corporation in exchange for its entire issue of preferred stock, $1,000,000 in cash, and the assumption of liabilities of $90,127.89, held to be a statutory reorganization. Nelson Co. v. Helvering,296 U.S. 374.
2. The basis of the acquiring corporation for depreciation and…
2Cases cited26 opinions
- Caminetti v. United StatesSupreme Court of the United States · 1917
- Burnet v. Sanford & Brooks Co.Supreme Court of the United States · 1931
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- United States v. PhellisSupreme Court of the United States · 1921
- Irwin v. GavitSupreme Court of the United States · 1925
21 more not listed; retrieve them via the Exa API.