Dooly v. Commissioner
United States Tax Court
Held, in determining the value of stock in a ranching corporation, asset value was not the sole determinant but was considered along with other factors such as earnings and dividends; and the possibility that the ranch would be purchased for a public park or monument was too speculative and uncertain to be considered.
1Opinion of the Court
Estate of Ethel C. Dooly, Margaret Dooly Olwell and Jane Dooly Gile, Executrices v. Commissioner.
Dooly v. Commissioner
Docket No. 1113-69.
United States Tax Court
T.C. Memo 1972-164; 1972 Tax Ct. Memo LEXIS 92; 31 T.C.M. (CCH) 814; T.C.M. (RIA) 72164;
August 3, 1972
Held, in determining the value of stock in a ranching corporation, asset value was not the sole determinant but was considered along with other factors such as earnings and dividends; and the possibility that the ranch would be purchased for a public park or monument was too speculative and uncertain to be considered.
Stephen H.…
2Cases cited12 opinions
- Olson v. United StatesSupreme Court of the United States · 1934
- Burton-Sutton Oil Co. v. CommissionerSupreme Court of the United States · 1946
- Marie H. Hamm v. Commissioner of Internal Revenue, William Hamm, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1963
- Huntington v. CommissionerUnited States Board of Tax Appeals · 1937
- Portland Mfg. Co. v. CommissionerUnited States Tax Court · 1971
7 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Zokoych v. SpaldingAppellate Court of Illinois · 1984