# John Morrell & Co. v. Commissioner > United States Board of Tax Appeals · December 5, 1928 · 14 B.T.A. 569 URL: https://www.frixlaw.com/law-library/cases/4488925 ## Case - **Full name:** JOHN MORRELL & CO. (A MAINE CORPORATION), JOHN MORRELL & CO, (A DELAWARE CORPORATION), KITTERY REALTY CO., YORKSHIRE CREAMERY CO., AND OTTUMWA SERUM CO., v. COMMISSIONER OF INTERNAL REVENUE - **Court:** United States Board of Tax Appeals - **Decided:** December 5, 1928 - **Citations:** 14 B.T.A. 569; 1928 BTA LEXIS 2959 - **Precedential status:** Published - **Opinion:** Opinion of the court by Littleton - **Judges:** Littleton - **Cited by:** 0 later opinions in the Frix Law Library ## Citator (automated) - No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases. - Full citator and citing cases: https://www.frixlaw.com/law-library/cases/4488925 ## Opinion text *571 OPINION. Littleton : The sole issue is whether the limitation on account of intangibles shall be determined upon the basis of the par value of *572 the outstanding capital stock of the consolidated group, after eliminating intercompany holdings, or the par value of the outstanding stock of the Maine corporation which issued stock for the intangibles, is controlled by Gould Coupler Co., 5 B. T. A. 499, wherein the Board said: It follows from what we have said that, in applying the limitation on the amount of intangibles, the group shall be treated as a unit, i. e., the limitation shall be measured by the par value of the total outstanding stock of the group. This rule should be followed in both classes of affiliation, and hence in a combination of the two. * * ⅜. The parties have stipulated that “The total outstanding stock of the affiliated group, as a unit, after eliminating all intercompany holdings for 11 years here in controversy, is $3,236,900.” It follows, therefore, that the foregoing amount is to be used as a measure for applying the limitation rather than the outstanding capital stock of the Maine corporation of $1,666,110. Judgment will be entered under Rule 60. --- Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/4488925. Public record. Not legal advice.