Legal Opinion
Thurber v. Commissioner of Internal Revenue
Court of Appeals for the First Circuit
Decided July 14, 1936No. 3093PublishedCited by 4 opinions
1Opinion of the Court
MORTON, Circuit Judge.
This case involves personal income taxes assessed for the year 1930 under the Revenue Act of 1928 (45 Stat. 791).
The first point in controversy is whether the combination of the old Guaranty Savings Bank of Nashua, N. H., with the *816Second National Bank of that city, was “a merger or consolidation” within the meaning of section 112 of the act referred to (26 U.S.C.A. § 112 and note), ¿o that no taxable gain or loss arose from the exchange of shares. The Commissioner held that the combination was not a merger or consolidation, but was a sale of the assets of the Savings…
2Cases cited12 opinions
- Pinellas Ice & Cold Storage Co. v. CommissionerSupreme Court of the United States · 1933
- Helvering v. RankinSupreme Court of the United States · 1935
- General Utilities & Operating Co. v. HelveringSupreme Court of the United States · 1935
- Helvering v. Minnesota Tea Co.Supreme Court of the United States · 1935
- Cortland Specialty Co. v. Commissioner of Internal Rev.Court of Appeals for the Second Circuit · 1932
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3Cited by4 opinions
- Portland Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1940
- Hendee v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1938
- Louis W. Gunby, Inc. v. HelveringCourt of Appeals for the D.C. Circuit · 1941
- Thurber v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1936