Legal Opinion
Commissioner of Internal Revenue v. H. W. Porter & Co., Inc.
Court of Appeals for the Third Circuit
Decided March 29, 1951No. 10301_1PublishedCited by 18 opinions
1Opinion of the Court
GOODRICH, Circuit Judge.
Is a corporation subject to income tax on what it has made from a transaction which had its own shares as the subject matter? This appeal calls for an answer to that question. The Commissioner said the corporation realized a taxable gain, the taxpayer said not. The Tax Court agreed with taxpayer, reiterating a position it had earlier taken upon the matter. 1950, 14 T.C. 307.
The facts of the case are not in dispute. Taxpayer was incorporated under New Jersey law in 1927. Its organizers were persons who had managed the sale and installation of insulating equipment…
2Cases cited19 opinions
- Case v. Los Angeles Lumber Products Co.Supreme Court of the United States · 1939
- Helvering v. R. J. Reynolds Tobacco Co.Supreme Court of the United States · 1939
- Earle v. Illinois Central RailroadSupreme Court of the United States · 1942
- COMMISSION OF INT. REV. v. Air Reduction Co.Court of Appeals for the Second Circuit · 1942
- Helvering v. Edison Bros. Stores, Inc.Court of Appeals for the Eighth Circuit · 1943
14 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Duncan Industries, Inc., etc. v. CommissionerUnited States Tax Court · 1979
- Platt Trailer Co. v. CommissionerUnited States Tax Court · 1955
- United States v. Anderson, Clayton & Co.Supreme Court of the United States · 1955
- Commissioner of Internal Revenue v. Landers CorpCourt of Appeals for the Sixth Circuit · 1954
- General Electric Company v. The United StatesUnited States Court of Claims · 1962
13 more not listed; retrieve them via the Exa API.