Anderson-Clayton Sec. Corp. v. Commissioner
United States Board of Tax Appeals
1. Anderson-Clayton Industries, Inc., an affiliate of petitioner, owned 100 percent of the preferred stock and 64 percent of the shares of common stock of each of six other companies. The preferred stock of the six companies had a voting power of 50 votes per share and a par value of $100 per share. The common stock of the six companies had a voting power of one vote per share and a par value of $2 per share.
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1. Anderson-Clayton Industries, Inc., an affiliate of petitioner, owned 100 percent of the preferred stock and 64 percent of the shares of common stock of each of six other companies. The preferred stock of the six companies had a voting power of 50 votes per share and a par value of $100 per share. The common stock of the six companies had a voting power of one vote per share and a par value of $2 per share. Held, the six companies were affiliated, within the meaning of section 141(d) of the Revenue Act of 1928; as Anderson-Clayton Industries, Inc., owned more than 95 percent of each of…
1Opinion of the Court
ANDERSON-CLAYTON SECURITIES CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Anderson-Clayton Sec. Corp. v. Commissioner
Docket No. 78340.
United States Board of Tax Appeals
35 B.T.A. 795; 1937 BTA LEXIS 836;
March 31, 1937, Promulgated
1. Anderson-Clayton Industries, Inc., an affiliate of petitioner, owned 100 percent of the preferred stock and 64 percent of the shares of common stock of each of six other companies. The preferred stock of the six companies had a voting power of 50 votes per share and a par value of $100 per share. The common stock of the six companies had…
2Cases cited21 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- United States v. AndersonSupreme Court of the United States · 1926
- Gould v. GouldSupreme Court of the United States · 1917
- Brown v. HelveringSupreme Court of the United States · 1934
- United States v. FieldSupreme Court of the United States · 1921
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