Case law

West 28th Street Corp. v. Commissioner

4 B.T.A. 147 · United States Board of Tax Appeals · Jun 21, 1926

The two qualifying shares originally issued on March 1, 1907, to Charles W. Hoffman and George F. Drew were assigned by them in blank on March 2, 1907. … The evidence clearly establishes the fact that the actual ownership of all stock in both corporations was in George A. Potterton and his brother, John H.

Fisher v. Commissioner

7 B.T.A. 968 · United States Board of Tax Appeals · Aug 1, 1927

Evidence does not establish that claimed losses were sustained in 1920. William S. Hammers, Esq., for the petitioner. J. W. Fisher, Esq., for the respondent. … In 1920 he owned, except for qualifying shares, all of the capital stock of the Continental Realty Co., which was capitalized at $10,000.

Bigelow v. Commissioner

38 B.T.A. 377 · United States Board of Tax Appeals · Aug 23, 1938

hereto is the community property of the parties hereto; and the parties hereto are desirous that th,e rights and interests of the respective parties hereto in and to all their community property be expressly defined and established … Some of these were: management and control of the community property, absolute and exclusive power to dispose of the personalty, qualified power to dispose of the real estate, power to contract debts upon the wife’s share

Weis v. Commissioner

30 B.T.A. 478 · United States Board of Tax Appeals · Apr 26, 1934

On the other hand, the evidence establishes the following additional, pertinent facts: (1) Petitioner clearly had no desire from personal choice to change his domicile from Louisiana to Illinois, and reluctantly took up his … residence in Chicago was for an indefinite duration only in the sense that the exact date of his return to New Orleans to reside could not be definitely forecast; (2) his principal business interests were in Louisiana; (3) he qualified

DeVelin v. Commissioner

22 B.T.A. 1400 · United States Board of Tax Appeals · Apr 30, 1931

Furthermore, no evidence was introduced to establish the value of the fee itself. Therefore, we can allot no portion of the royalties,to a return of capital, but must include the entire amounts in income. … The character of the mining risk here involved was discussed by qualified experts called respectively by both sides.

Page Oil Co. v. Commissioner

41 B.T.A. 952 · United States Board of Tax Appeals · Apr 26, 1940

established. … Witnesses, qualified by substantial experience in oil properties and their market values in that section, testified to a value in excess of $3,000,000 for the property.

Underwriters' Laboratories, Inc. v. Commissioner

46 B.T.A. 464 · United States Board of Tax Appeals · Feb 26, 1942

The petitioner argues that the term “charitable” clearly comprehends the establishment and maintenance of its pension and disability fund. … Furthermore, this fund was not established by petitioner. It was established by the Illinois company.

H. LIEBES & CO. v. COMMISSIONER

23 B.T.A. 787 · United States Board of Tax Appeals · Jun 18, 1931

The evidence establishes, and we have found as a fact, that the cost of the stock to petitioner was $210,000. … Had the petitioner sold the stock in 1921 for a nominal sum - which was all that could have been realized - the case would clearly come within the case .

W. S. Farish & Co. v. Commissioner

38 B.T.A. 150 · United States Board of Tax Appeals · Jul 22, 1938

The balance of its stqok was owned by his wife, son, and daughter, with the exception of qualifying shares. … That case is clearly distinguishable on the facts from the instant proceeding. In Rands, Inc., 34 B. T. A. 1094; Nipoch Corporation, 36 B. T. A. 662; and R. L. Blaffer & Co., 37 B. T.

Huntington v. Commissioner

36 B.T.A. 698 · United States Board of Tax Appeals · Oct 22, 1937

Each value determined by us is directly supported by comparable sales, corroborative expert opinions and the clearly established facts of record. … Each value so determined by us is directly supported by comparable sales, corroborative expert opinions, and clearly established facts of record.

Simons Brick Co. v. Commissioner

14 B.T.A. 878 · United States Board of Tax Appeals · Dec 21, 1928

It was, therefore, necessary for the petitioner to establish the total cost of its assets unreduced by depreciation. … The testimony of this witness who qualified as an expert clearly indicated that the value of $725 an acre which the Commissioner used in arriving at the unit value per ton was liberal as to each and every property involved

Adirondack Sec. Corp. v. Commissioner

23 B.T.A. 61 · United States Board of Tax Appeals · May 6, 1931

Its capital stock consisted of 1,000 shares of no par value stock, which, except qualifying *1932 shares, were issued to and owned by its president, John Guibord. *62 In its income-tax return for the year 1925, the petitioner … The proof clearly shows, however, that the petitioner bought and sold securities solely for its own account.

United Business Corp. of Am. v. Commissioner

19 B.T.A. 809 · United States Board of Tax Appeals · Apr 30, 1930

Under the above construction of the statute it might then be argued that any accumulation, whether large or small, reasonable or unreasonable, would establish the prohibited intent and bring the corporation within the provisions … The petitioners offered a number of witnesses who were qualified in an unusual degree to testify from personal knowledge and experience with respect to the conditions existing in Seattle during and prior to the taxable years

Coffin v. Commissioner

12 B.T.A. 702 · United States Board of Tax Appeals · Jun 19, 1928

As cases arise, lying between the two extremes, it becomes necessary to draw the line which separates those activities having some relation to government, which are nevertheless subject to taxation, from those which are immune … We do not wish to be understood as accepting such assumption as an established rule. Pawhuska v. Pawhuska Oil and Gas, 250 U. S. 394 .

Williams v. Commissioner

1 B.T.A. 1101 · United States Board of Tax Appeals · May 5, 1925

Williams, of Baltimore, Maryland, was duly appointed and qualified as executor of her estate. The Commissioner, in auditing the income-tax return of Ellen C. … The record of this appeal establishes the fact that Ellen C.

Markle v. Commissioner

28 B.T.A. 201 · United States Board of Tax Appeals · May 31, 1933

Petitioners are the duly qualified executors of the estate of Mary R. … Much of the stipulation refers to extrinsic facts and testimony intended to establish them.

Lansburgh v. Commissioner

35 B.T.A. 928 · United States Board of Tax Appeals · Apr 23, 1937

His will was admitted to probate October 2,1933; the executor named did not qualify; Eleanor Lansburgh qualified as administratrix with the will annexed, and letters testamentary were issued to her. … The fact of sales, in itself, and without regard to the circumstances under which the sales were made, does not conclusively establish either statutory fair market price or value.

Dauth v. Commissioner

42 B.T.A. 1181 · United States Board of Tax Appeals · Nov 14, 1940

Petitioner called a witness who was duly qualified to testify upon the value in 1936 of the second mortgage on the University Avenue property. His testimony stands uncontradicted. … Here petitioners, the sole stockholders of Unidauth, could establish an apparent loss to Uni-dauth by offering to sell and selling the stocks in question at cost to them at a time when Unidauth, selling the stocks on the

Tex-Penn Oil Co. v. Commissioner

28 B.T.A. 917 · United States Board of Tax Appeals · Aug 8, 1933

Evidence offered by petitioners establishes that the Boynton refinery of Pittsburgh-Texas had a value of $500,-000. … The rapidity of the decline was known prior to August 1, 1919, and is shown clearly in the tabulations appearing in the findings of fact.

Meurer Steel Barrel Co. v. Commissioner

11 B.T.A. 584 · United States Board of Tax Appeals · Apr 13, 1928

A few shares were held by a director for the purpose of qualifying him to act. The preferred stock was all owned by Margaret C. Meurer, wife (now widow) of Jacob Meurer. … The principle that the form must be disregarded in such a transaction is too well established to call for the citation of authority. To the same effect is the decision in .