Burge v. Commissioner
United States Board of Tax Appeals
The transfer by tenants in common of their undivided interests in a number of oil leases to a corporation in exchange for the capital stock of that corporation resulted in taxable income under section 202 of the Revenue Act of 1918.
1Opinion of the Court
APPEALS OF NAPOLEON B. BURGE AND C. B. BURGE.
Burge v. Commissioner
Docket Nos. 2611, 2762.
United States Board of Tax Appeals
4 B.T.A. 732; 1926 BTA LEXIS 2216;
August 4, 1926, Decided
The transfer by tenants in common of their undivided interests in a number of oil leases to a corporation in exchange for the capital stock of that corporation resulted in taxable income under section 202 of the Revenue Act of 1918.
F. A. McCoy, C.P.A., for the petitioners.
Arthur J. Seaton, Esq., for the Commissioner.
D. R. Hite, Esq., as amicus curiae.
ARUNDELL
Before ARUNDELL, LANSDON, and STERNHAGEN.
These are appeals…
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