Legal Opinion
Taylor v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided March 26, 1937No. 6031PublishedCited by 6 opinions
1Opinion of the Court
EVANS, Circuit Judge.
The facts were stipulated. Petitioners and their wives owned all the stock of the T. F. Co. which they sold in May, 1925, to B. U. Co. for $750,000 and 10,000 shares of stock. The tax on the profits of this sale is not involved in the case before us, although the transaction which is the subject of this controversy grew out of this sale. As one of the considerations of this sale petitioners entered into a written agreement with T. F. Co. wherein they agreed, in consideration of the transfer of Liberty Bonds of the par value of $145,-000 to them, to “assume and pay all…
2Cases cited9 opinions
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- Lucas v. American Code Co.Supreme Court of the United States · 1930
- Botany Worsted Mills v. United StatesSupreme Court of the United States · 1929
- R. H. Stearns Co. v. United StatesSupreme Court of the United States · 1934
- Sturm v. BokerSupreme Court of the United States · 1893
4 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Helvering v. Schine Chain Theatres, Inc.Court of Appeals for the Second Circuit · 1941
- United States Smelting, Refining & Mining Co. v. HaynesUtah Supreme Court · 1947
- Buder v. Denver Nat. BankCourt of Appeals for the Eighth Circuit · 1945
- Big Lake Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1938
- Becker v. BemisCourt of Appeals for the Eighth Circuit · 1939
1 more not listed; retrieve them via the Exa API.