Keystone Consol. Publishing Co. v. Commissioner
United States Board of Tax Appeals
Where a corporation took out insurance policies in 1916 and 1921 upon the lives of its officers who were also stockholders, made itself the beneficiary of the policies, and paid the premiums thereon until 1926, when it sold the policies to the insured at a price equal to the cash surrender value thereof, held, no loss was sustained by the corporation upon the sale of the policies. Standard Brewing Co.,6 B.T.A. 980, followed.
1Opinion of the Court
KEYSTONE CONSOLIDATED PUBLISHING COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Keystone Consol. Publishing Co. v. Commissioner
Docket No. 46311.
United States Board of Tax Appeals
26 B.T.A. 1210; 1932 BTA LEXIS 1171;
October 18, 1932, Promulgated
Where a corporation took out insurance policies in 1916 and 1921 upon the lives of its officers who were also stockholders, made itself the beneficiary of the policies, and paid the premiums thereon until 1926, when it sold the policies to the insured at a price equal to the cash surrender value thereof, held, no loss was sustained…
2Cases cited1 opinion
- Keystone Consol. Publishing Co. v. CommissionerUnited States Board of Tax Appeals · 1932