Keck v. Commissioner
United States Tax Court
In 1956 an executory contract was entered into by three corporations engaged in various aspects of the motor transportation business to sell all of their assets, provided, however, that the requisite approval of the Interstate Commerce Commission could be obtained, and provided further that the selling corporations could obtain a ruling from the Internal Revenue Service that the gain realized by the corporations from the transfer of assets would be exempt from Federal income…
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In 1956 an executory contract was entered into by three corporations engaged in various aspects of the motor transportation business to sell all of their assets, provided, however, that the requisite approval of the Interstate Commerce Commission could be obtained, and provided further that the selling corporations could obtain a ruling from the Internal Revenue Service that the gain realized by the corporations from the transfer of assets would be exempt from Federal income tax under sec. 337, I.R.C. 1954. Pursuant to the contract, Shaw and the other stockholders delivered their stock in the…
1Opinion of the Court
George W. and Mary Ann Keck, Petitioners v. Commissioner of Internal Revenue, Respondent; Mary Ann Keck, Transferee of the Estate of Arthur D. Shaw, Deceased, Petitioner v. Commissioner of Internal Revenue, Respondent
Keck v. Commissioner
Docket Nos. 5326-65, 5327-65
United States Tax Court
49 T.C. 313; 1968 U.S. Tax Ct. LEXIS 199;
January 2, 1968, Filed
Decisions will be entered under Rule 50.
In 1956 an executory contract was entered into by three corporations engaged in various aspects of the motor transportation business to sell all of their assets, provided, however, that the requisite approval…
2Cases cited9 opinions
- Helvering v. Estate of EnrightSupreme Court of the United States · 1941
- Commissioner of Internal Revenue v. LindeCourt of Appeals for the Ninth Circuit · 1954
- Estate of Helen Davison, Deceased, First National Bank of Arizona v. United StatesCourt of Appeals for the First Circuit · 1961
- Boyle v. United StatesCourt of Appeals for the Third Circuit · 1965
- Keck v. CommissionerUnited States Tax Court · 1968
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