Legal Opinion
Burnet v. Commonwealth Improvement Co.
Supreme Court of the United States
Decided December 12, 1932No. 95PublishedCited by 298 opinions
1Opinion of the CourtJustice McReynolds
Respondent — Commonwealth Improvement Company— all of whose shares are owned by the Estate of P. A. B. Widener (he died in 1915), made return concerning income and excess profits taxes for 1920 wherein it claimed deduction for loss occasioned by transfer of British-American Tobacco Company stock to the Estate. The Commissioner refused to allow the deduction and found that rightly regarded the transaction had yielded gain to the taxpayer. A deficiency assessment followed.
The Board of Tax Appeals approved the Commissioner’s action; but the Circuit Court of Appeals, Third Circuit, held…
2Cases cited8 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Cannon Manufacturing Co. v. Cudahy Packing Co.Supreme Court of the United States · 1925
- United States v. PhellisSupreme Court of the United States · 1921
- Southern Pacific Co. v. LoweSupreme Court of the United States · 1918
- Lynch v. HornbySupreme Court of the United States · 1918
3 more not listed; retrieve them via the Exa API.
3Cited by298 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Higgins v. SmithSupreme Court of the United States · 1940
- Moline Properties, Inc. v. CommissionerSupreme Court of the United States · 1943
- National Carbide Corp. v. CommissionerSupreme Court of the United States · 1949
- Bartels v. BirminghamSupreme Court of the United States · 1947
293 more not listed; retrieve them via the Exa API.