Mente & Co. v. Commissioner
United States Board of Tax Appeals
1. The petitioner, a corporation, was organized under a plan wherein it was agreed that, in consideration of its president agreeing to protect the purchasers of its securities against Federal tax claims of the old corporation, he, as trustee for the old stockholders, was to receive any tax refund that might afterwards be found due to the old corporation.
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1. The petitioner, a corporation, was organized under a plan wherein it was agreed that, in consideration of its president agreeing to protect the purchasers of its securities against Federal tax claims of the old corporation, he, as trustee for the old stockholders, was to receive any tax refund that might afterwards be found due to the old corporation. Later the United States sent to the petitioner a check representing a refund for overpayment of taxes by the old company, with interest thereon. The petitioner paid the proceeds of the check to its president, who distributed them among the…
1Opinion of the Court
MENTE & CO., INC., PETITIONER, ET AL., 1v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Mente & Co. v. Commissioner
Docket Nos. 51305, 54701, 54708, 54917, 54959, 54960, 59722.
United States Board of Tax Appeals
29 B.T.A. 804; 1934 BTA LEXIS 1480;
January 17, 1934, Promulgated
1. The petitioner, a corporation, was organized under a plan wherein it was agreed that, in consideration of its president agreeing to protect the purchasers of its securities against Federal tax claims of the old corporation, he, as trustee for the old stockholders, was to receive any tax refund that might afterwards be…
2Cases cited1 opinion
- Mente & Co. v. CommissionerUnited States Board of Tax Appeals · 1934