Van Camp Packing Co. v. Commissioner
United States Board of Tax Appeals
One member of an affiliated group bought shares of the capital stock of another affiliate and later sold some of the shares at an advance over the purchase price. Both transactions were with persons outside the affiliated group. Held, no taxable gain resulted from such sale. Farmers Deposit National Bank,5 B.T.A. 520, followed.
1Opinion of the Court
VAN CAMP PACKING COMPANY, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Van Camp Packing Co. v. Commissioner
Docket No. 46131.
United States Board of Tax Appeals
26 B.T.A. 256; 1932 BTA LEXIS 1338;
June 6, 1932, Promulgated
One member of an affiliated group bought shares of the capital stock of another affiliate and later sold some of the shares at an advance over the purchase price. Both transactions were with persons outside the affiliated group. Held, no taxable gain resulted from such sale. Farmers Deposit National Bank,5 B.T.A. 520, followed.
Paul E. Shorb, Esq., and H. C.…
2Cases cited2 opinions
- Farmers Deposit Nat'l Bank v. CommissionerUnited States Board of Tax Appeals · 1926
- Van Camp Packing Co. v. CommissionerUnited States Board of Tax Appeals · 1932