Legal Opinion
Commissioner of Internal Revenue v. Rail Joint Co.
Court of Appeals for the Second Circuit
Decided November 7, 1932No. 29PublishedCited by 25 opinions
1Opinion of the Court
SWAN, Circuit Judge.
In 1914 tho taxpayer, a New York corporation, approved an appraisal of its assets which added $3,000,000 to its surplus account. It then declared a dividend payable in bonds, and issued and distributed among its stockholders its own debenture bonds of a face value of $2,000,000. During the taxable years 1926 and 1927, some of these unma-tured bonds wore purchased by the corporation at less than their face value. The bonds so purchased were canceled, and the difference between the purchase price and the face value was credited to surplus. The question presented is whether…
2Cases cited8 opinions
- Burnet v. Sanford & Brooks Co.Supreme Court of the United States · 1931
- United States v. Kirby Lumber CoSupreme Court of the United States · 1931
- Maryland Casualty Co. v. United StatesSupreme Court of the United States · 1920
- Bowers v. Kerbaugh-Empire Co.Supreme Court of the United States · 1926
- United States v. Oregon-Washington R. & Nav. Co.Court of Appeals for the Second Circuit · 1918
3 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Commissioner v. TuftsSupreme Court of the United States · 1983
- Vukasovich, Inc. v. Commissioner of Internal Revenue, Vukasovich, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1986
- Dallas T. & T. Warehouse Co. v. Commissioner of Int. Rev.Court of Appeals for the Fifth Circuit · 1934
- Commissioner of Internal Revenue v. Auto Strop Safety Razor Co., Inc.Court of Appeals for the Second Circuit · 1934
- Merkel v. CommissionerUnited States Tax Court · 1997
20 more not listed; retrieve them via the Exa API.