Meyer v. Commissioner
United States Board of Tax Appeals
Held that the fair market value of the stock involved in this proceeding on March 1, 1913, was the equivalent of the book value on that date; that the sale of such stock for part cash and the balance in notes was a completed transaction in 1923, the notes received being the equivalent of cash and that the record does not support the petitioner's contention that the taxpayer made a gift to his nephews in 1923 of three notes which were surrendered to them in a later year.
1Opinion of the Court
S. L. MEYER, EXECUTOR FOR THE ESTATE OF H. T. MEYER, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Meyer v. Commissioner
Docket No. 25788.
United States Board of Tax Appeals
23 B.T.A. 1201; 1931 BTA LEXIS 1754;
July 17, 1931, Promulgated
Held that the fair market value of the stock involved in this proceeding on March 1, 1913, was the equivalent of the book value on that date; that the sale of such stock for part cash and the balance in notes was a completed transaction in 1923, the notes received being the equivalent of cash and that the record does not support the…
2Cases cited1 opinion
- Meyer v. CommissionerUnited States Board of Tax Appeals · 1931