Acme Manifolding Co. v. Commissioner
United States Board of Tax Appeals
1. Actual cash value of property acquired for cash and stock determined, and held that in computing invested capital the cash paid is to be allocated to the tangibles, and the stock to the tangibles in excess of the cash and to the intangibles in accordance with the rules announced in Evansville Courier,23 B.T.A. 862, and St. Louis Screw Co.,2 B.T.A. 649. 2. Respondent's finding of the current earnings available for the payment of dividends sustained in the absence of…
Read the full summary
1. Actual cash value of property acquired for cash and stock determined, and held that in computing invested capital the cash paid is to be allocated to the tangibles, and the stock to the tangibles in excess of the cash and to the intangibles in accordance with the rules announced in Evansville Courier,23 B.T.A. 862, and St. Louis Screw Co.,2 B.T.A. 649. 2. Respondent's finding of the current earnings available for the payment of dividends sustained in the absence of evidence proving the determination to be erroneous. 3. Special assessment denied. 4. Respondent's allowance for depreciation…
1Opinion of the Court
ACME MANIFOLDING COMPANY, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Acme Manifolding Co. v. Commissioner
Docket Nos. 25194, 38687.
United States Board of Tax Appeals
24 B.T.A. 429; 1931 BTA LEXIS 1641;
October 23, 1931, Promulgated
1. Actual cash value of property acquired for cash and stock determined, and held that in computing invested capital the cash paid is to be allocated to the tangibles, and the stock to the tangibles in excess of the cash and to the intangibles in accordance with the rules announced in Evansville Courier,23 B.T.A. 862, and St. Louis Screw Co.,2…
2Cases cited3 opinions
- St. Louis Screw Co. v. CommissionerUnited States Board of Tax Appeals · 1925
- Evansville Courier v. CommissionerUnited States Board of Tax Appeals · 1931
- Acme Manifolding Co. v. CommissionerUnited States Board of Tax Appeals · 1931