Legal Opinion
Farid-Es-Sultaneh v. Commissioner of Internal Rev.
Court of Appeals for the Second Circuit
Decided April 11, 1947No. 154, Docket 20400PublishedCited by 28 opinions
1Opinion of the Court
CHASE, Circuit Judge.
The problem presented by this petition is to fix the cost basis to 'be used by the petitioner in determining the taxable gain on a sale she made in 1938 of shares of corporate stock. She contends that it is the adjusted value of the shares at the date she acquired them because her acquisition was by purchase. The Commissioner’s position is that she must use the adjusted cost basis of her transferor because her acquisition was by gift. The Tax Court agreed with the Commissioner and redetermined the deficiency accordingly.
The pertinent facts are not in dispute and were…
2Cases cited6 opinions
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Trust Under the Will of Bingham v. CommissionerSupreme Court of the United States · 1945
- Commissioner v. WemyssSupreme Court of the United States · 1945
- Merrill v. FahsSupreme Court of the United States · 1945
- Ferguson v. DicksonCourt of Appeals for the Third Circuit · 1924
1 more not listed; retrieve them via the Exa API.
3Cited by28 opinions
- United States v. DavisSupreme Court of the United States · 1962
- Brennan v. Taft Broadcasting Co.Court of Appeals for the Fifth Circuit · 1974
- Rosenthal v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1953
- McCann v. Hy-Vee, Inc.Court of Appeals for the Seventh Circuit · 2011
- Matthews v. United StatesUnited States Court of Claims · 1970
23 more not listed; retrieve them via the Exa API.