Baker v. Commissioner (A)
United States Board of Tax Appeals
1. Corporation A was organized to acquire, as of January 1, 1915, certain assets and business of a partnership, in exchange for 270 shares of its stock. In 1920 corporation B was organized and acquired the assets and business of corporation A, ten shares of its preferred and five shares of its common being exchanged for each share of the common stock of A. This exchange was taxable but the stockholders, believing and being advised that it was nontaxable, reported no gain.
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1. Corporation A was organized to acquire, as of January 1, 1915, certain assets and business of a partnership, in exchange for 270 shares of its stock. In 1920 corporation B was organized and acquired the assets and business of corporation A, ten shares of its preferred and five shares of its common being exchanged for each share of the common stock of A. This exchange was taxable but the stockholders, believing and being advised that it was nontaxable, reported no gain. Thereafter the petitioning stockholders, the former partners, bought and sold common stock of corporation B. In April 1928…
1Opinion of the Court
R. E. BAKER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
ARTHUR G. MCKEE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
T. W. RUTLEDGE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Baker v. Commissioner (A)
Docket Nos. 58152, 61120, 61121.
United States Board of Tax Appeals
37 B.T.A. 1135; 1938 BTA LEXIS 929;
June 30, 1938, Promulgated
1. Corporation A was organized to acquire, as of January 1, 1915, certain assets and business of a partnership, in exchange for 270 shares of its stock. In 1920 corporation B was organized and acquired the assets and…
2Cases cited17 opinions
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- Helvering v. Tex-Penn Oil Co.Supreme Court of the United States · 1937
- Helvering v. Midland Mutual Life InsuranceSupreme Court of the United States · 1937
- Tide Water Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1934
- Union P. R. Co. v. CommissionerUnited States Board of Tax Appeals · 1935
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