Jarecki Mfg. Co. v. Commissioner
United States Board of Tax Appeals
1. The release by a corporation of an employee from a debt in consideration of the retention of his services held deductible from gross income under section 12(a) of the Revenue Act of 1916. 2. Cost of assets for the purpose of restoring surplus to invested capital and fair market value of assets as of March 1, 1913, determined.
1Opinion of the Court
JERECKI MANUFACTURING CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Jarecki Mfg. Co. v. Commissioner
Docket No. 10798.
United States Board of Tax Appeals
12 B.T.A. 1165; 1928 BTA LEXIS 3398;
July 5, 1928, Promulgated
1. The release by a corporation of an employee from a debt in consideration of the retention of his services held deductible from gross income under section 12(a) of the Revenue Act of 1916.
2. Cost of assets for the purpose of restoring surplus to invested capital and fair market value of assets as of March 1, 1913, determined.
Frank J. Maguire, Esq., and Edw. N.…
2Cases cited6 opinions
- McCardle v. Indianapolis Water Co.Supreme Court of the United States · 1926
- United States v. Philadelphia Knitting Mills Co.Court of Appeals for the Third Circuit · 1921
- Union Metal Mfg. Co. v. CommissionerUnited States Board of Tax Appeals · 1925
- Donaldson Iron Co. v. CommissionerUnited States Board of Tax Appeals · 1928
- Jarecki Mfg. Co. v. CommissionerUnited States Board of Tax Appeals · 1928
1 more not listed; retrieve them via the Exa API.