Legal Opinion
Budd v. Commissioner
Court of Appeals for the Third Circuit
Decided August 13, 1930No. 4069PublishedCited by 17 opinions
1Opinion of the Court
DAVIS, Circuit Judge.
This is an appeal from an order of re-determination of taxes for the year 1921 of $55,980.87 on the sale of 7,500 shares of the preferred stock of the Budd Wheel Company on the ground that the sale was not b.ona fide.
On February 2, 1920, Mr. Edward G. Budd purchased 7,500 shares of the stock of the Budd Wheel Company of which he was president, at $100 a share for the total price of $750,000. The stock declined in value to $70 a share, and on November 15, 1921, he sold 3,000 shares of the stock to Mr. William B. Read, treasurer of the Budd Wheel Company. Mr. Budd indorsed…
2Cases cited15 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Central Vermont Railway Co. v. WhiteSupreme Court of the United States · 1915
- United States v. IshamSupreme Court of the United States · 1873
- Wickwire v. ReineckeSupreme Court of the United States · 1927
- Lalone v. United StatesSupreme Court of the United States · 1896
10 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Frank J. Valetti and Sarah J. Valetti v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1958
- Marshall v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1932
- Gouldman v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1948
- W. J. Ohlinger and Viola Ohlinger v. United StatesCourt of Appeals for the Ninth Circuit · 1955
- Marchica v. State Board of EqualizationCalifornia Court of Appeal · 1951
12 more not listed; retrieve them via the Exa API.