Williams v. Commissioner
United States Board of Tax Appeals
1. Commissioner's appraisal of value of corporation stock approved. 2. Where both cash and corporation bonds form the consideration paid for capital stock in another corporation, held, that such bonds, at their market value at time of sale, are properly included in the computation of taxable income to seller. John B. Atkins et al.,9 B.T.A. 140.
1Opinion of the Court
*229ORINION.
LaNsdoN :
There being no dispute as to the selling price of the stock received by petitioner in exchange for his stock in the Red Cliff Land & Lumber Co., Ltd., ,it remains only for us to determine the cost of said stock to him, as shown by its market value on November .4, 1918. The probate court of St. Louis County, Minnesota, found the value of this stock to be $194.64 per share for inheritance and estate tax purposes. This valuation was adopted by the respondent in determining the profit to petitioner from the sale, and this finding we are bound to approve, unless the presumption in…
2Cited by14 opinions
- Palmer v. CommissionerUnited States Tax Court · 1974
- Evans v. CommissionerUnited States Board of Tax Appeals · 1934
- McConnell v. CommissionerUnited States Board of Tax Appeals · 1933
- Estate of Larson v. CommissionerUnited States Tax Court · 1944
- Feldman v. CommissionerUnited States Tax Court · 1968
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