Concrete Eng'g Co. v. Commissioner
United States Board of Tax Appeals
1. The president of the petitioner, subsequently to March 1, 1913, without consideration, assigned to the petitioner certain patents, the value of which has been determined for the purpose of computing the annual deduction for exhaustion. 2. Intangible property transferred to a corporation without any consideration therefor may not be included in invested capital as paid-in surplus under the provisions of section 326(a)(3) of the Revenue Act of 1918. 3. Because of…
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1. The president of the petitioner, subsequently to March 1, 1913, without consideration, assigned to the petitioner certain patents, the value of which has been determined for the purpose of computing the annual deduction for exhaustion. 2. Intangible property transferred to a corporation without any consideration therefor may not be included in invested capital as paid-in surplus under the provisions of section 326(a)(3) of the Revenue Act of 1918. 3. Because of abnormality in invested capital due to the exclusion of valuable patents from invested capital, the petitioner is entitled to have…
1Opinion of the Court
CONCRETE ENGINEERING CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Concrete Eng'g Co. v. Commissioner
Docket No. 19257.
United States Board of Tax Appeals
19 B.T.A. 212; 1930 BTA LEXIS 2450;
March 5, 1930, Promulgated
1. The president of the petitioner, subsequently to March 1, 1913, without consideration, assigned to the petitioner certain patents, the value of which has been determined for the purpose of computing the annual deduction for exhaustion.
2. Intangible property transferred to a corporation without any consideration therefor may not be included in invested capital as…
2Cases cited4 opinions
- Herald-Despatch Co. v. CommissionerUnited States Board of Tax Appeals · 1926
- Concrete Engineering Co. v. CommissionerUnited States Board of Tax Appeals · 1930
- Clarence Whitman & Sons, Inc. v. CommissionerUnited States Board of Tax Appeals · 1928
- Concrete Eng'g Co. v. CommissionerUnited States Board of Tax Appeals · 1930