Legal Opinion
Commissioner v. Alabama Asphaltic Limestone Co.
Court of Appeals for the Fifth Circuit
Decided May 5, 1941No. 9569PublishedCited by 9 opinions
1Opinion of the Court
SIBLEY, Circuit Judge.
Touching income taxes for the year 1934, the taxpayer, Alabama Asphaltic Limestone Company, called herein the new corporation, claimed depreciation and depletion deductions based on the cost of *820its property to Alabama Rock Asphalt Company, its predecessor in title, called the old corporation. The Commissioner held the proper basis to be the price bid in 1931 on a sale in bankruptcy by a creditors’ Committee which had the property conveyed to the taxpayer. The Board of Tax Appeals upheld the basis claimed by the taxpayer, thinking there was a reorganization of the old…
2Cases cited8 opinions
- LeTulle v. ScofieldSupreme Court of the United States · 1940
- Arnold v. PhillipsCourt of Appeals for the Fifth Circuit · 1941
- Commissioner of Internal Revenue v. KitselmanCourt of Appeals for the Seventh Circuit · 1937
- Commissioner of Internal Revenue v. Newberry Lumber & Chemical Co.Court of Appeals for the Sixth Circuit · 1938
- Commissioner v. Southwest Consol. Corp.Court of Appeals for the Fifth Circuit · 1941
3 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Helvering v. Alabama Asphaltic Limestone Co.Supreme Court of the United States · 1942
- Helvering v. New Haven & S. L. R.Court of Appeals for the Second Circuit · 1941
- McCarthy v. OsbornSupreme Court of Louisiana · 1953
- J.E. Seagram Corp. v. CommissionerUnited States Tax Court · 1995
- D. W. Klein Co. v. CommissionerCourt of Appeals for the Seventh Circuit · 1941
4 more not listed; retrieve them via the Exa API.