Opinion

Mellon v. Commissioner

36 B.T.A. 977
1937 BTA LEXIS 628

Court: United States Board of Tax Appeals
Filed: Dec 7, 1937
Status: Published
Author: Murdock
On the bench: Supreme, McClintic, Marshall, Sternhagen, Reached, Harron, Turner, Fossan, Smith, Mellott, Black, Hill, Issue, Disney, Murdock, Controlled, That, Gromam, Tyson, Arundell, Transaction, Arnold, Leech, Solely, Agree
Cited by: 26 cases
Authority: More cited than 10.7%

The opinion

Murdock,

dissenting and concurring: The evidence shows to my satisfaction that the petitioner is entitled to deduct the loss claimed on the sale of the Western Public Service Corporation stock. I concur in the result reached by the majority of the Board on all other issues although I do not agree with all that is said in the majority opinions. I decide the McClintic-Marshall—Bethlehem reorganization issue against the contention of the petitioner, first, because, on authority of Gromam v. Commissioner, 302 U. S. 82 , Bethlehem was not “a party to a reorganization” and, second, because, the subsidiaries of Bethlehem did not acquire “substantially all” of the assets of McClintic-Marshall within the meaning of the statute. Alice V. St. Onge, 31 B. T. A. 295; David Gross, 34 B. T. A. 395. See also dissent in Elkhorn Coal Co., 34 B. T. A. 845.

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