Everhart v. Commissioner
United States Board of Tax Appeals
Where petitioner, a representative of a certain company, purchased an interest or participation in a syndicate organized by such company at a price less than the basis upon which such interests were sold to others, the reduction in selling price amounting to his customary commission on sales of such interests to others, held the difference between the usual selling price and the amount paid by petitioner is not taxable income to petitioner.
1Opinion of the Court
JAMES WILLIAM EVERHART, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Everhart v. Commissioner
Docket No. 26675.
United States Board of Tax Appeals
26 B.T.A. 318; 1932 BTA LEXIS 1332;
June 8, 1932, Promulgated
Where petitioner, a representative of a certain company, purchased an interest or participation in a syndicate organized by such company at a price less than the basis upon which such interests were sold to others, the reduction in selling price amounting to his customary commission on sales of such interests to others, held the difference between the usual selling price and…
2Cases cited5 opinions
- Continental Insurance v. United StatesSupreme Court of the United States · 1922
- Van Vorst v. CommissionerUnited States Board of Tax Appeals · 1931
- Everhart v. CommissionerUnited States Board of Tax Appeals · 1932
- Jones v. CommissionerUnited States Board of Tax Appeals · 1930
- McMichael v. CommissionerUnited States Board of Tax Appeals · 1926