Legal Opinion
COMMISSION OF INT. REV. v. Air Reduction Co.
Court of Appeals for the Second Circuit
Decided July 16, 1942No. 277PublishedCited by 31 opinions
1Opinion of the Court
CHASE, Circuit Judge.
The taxpayer is a New York corporation manufacturing and selling oxygen and other derivatives of air, acetylene, carbide, carbonic acid gas and welding and cutting apparatus. During the year 1935 it acquired 22,347 shares of the stock of Pure Carbonic Company of America in exchange for 5,-258 shares of taxpayer’s own treasury stock. This treasury stock had been originally issued and was later repurchased for cash at a cost computfed by the first-in-first-out method of $182,536.73. The fair market value of the Pure Carbonic Company stock acquired in the 1935 exchange was…
2Cases cited11 opinions
- Morrissey v. CommissionerSupreme Court of the United States · 1935
- Helvering v. R. J. Reynolds Tobacco Co.Supreme Court of the United States · 1939
- Helvering v. Southwest Consolidated Corp.Supreme Court of the United States · 1942
- Helvering v. Wilshire Oil Co.Supreme Court of the United States · 1939
- Helvering v. ReynoldsSupreme Court of the United States · 1941
6 more not listed; retrieve them via the Exa API.
3Cited by31 opinions
- Helvering v. Edison Bros. Stores, Inc.Court of Appeals for the Eighth Circuit · 1943
- Commissioner v. Batten, Barton, Durstine & Osborn, Inc.Court of Appeals for the Second Circuit · 1948
- Commissioner of Internal Revenue v. Landers CorpCourt of Appeals for the Sixth Circuit · 1954
- Commissioner of Internal Revenue v. Rollins Burdick Hunter Co.Court of Appeals for the Seventh Circuit · 1949
- Hubert E. Howard v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1956
26 more not listed; retrieve them via the Exa API.