Case law

Bing & Bing, Inc. v. Commissioner

35 B.T.A. 1170 · United States Board of Tax Appeals · May 28, 1937

The income of a syndicate, qualifying as a statutory association, is not taxable to its members until distribution has been made or accrued similar to the declaration of a dividend. 3. … No part of a loss sustained by a syndicate, qualifying as a statutory association, is deductible by the syndicate members. 4.

Johnston v. Commissioner

33 B.T.A. 551 · United States Board of Tax Appeals · Nov 26, 1935

The following facts are thus established. FINDINGS OF FACT. 1. On March 15, 1933, petitioner, the duly qualified executor of the estate of F. M. … That function is to decide only whether the discretion, clearly existing in the Commissioner, was here exercised by him in an arbitrary and capricious manner. The record discloses the following relevant facts: 1.

Alpena Sav. Bank v. Commissioner

45 B.T.A. 665 · United States Board of Tax Appeals · Nov 12, 1941

In all such instances, where the payment of such a tax would diminish assets otherwise available and necessary for full payment of creditors' claims, it is requested that claim for immunity from the tax be made and that a … Since the respondent admits that the payment of the tax by the trust would reduce the assets necessary for the payment of claims of the depositors, both the assessment and collection *671 of the tax are clearly prohibited

Buckner v. Commissioner

45 B.T.A. 544 · United States Board of Tax Appeals · Nov 4, 1941

Dearing qualified as executor of the estate. On February 27, 1932, petitioner accepted the provisions of the will. The will devised and bequeathed *546 to Willis R. … Here the will of the decedent clearly bequeathed his interest in the partnership to Willis R. Dearing in trust, with petitioner as sole beneficiary of the trust.

Oakland Bank v. Commissioner

23 B.T.A. 256 · United States Board of Tax Appeals · May 15, 1931

The Oakland Bank is the duly appointed, acting and qualified executor of the decedent's estate. … We are further of the opinion that the evidence is insufficient to establish the $28,039.67 received by Mrs. Lemer as her share of the profits from the laundry business as her separate property.

American Stone Co. v. Commissioner

9 B.T.A. 242 · United States Board of Tax Appeals · Nov 22, 1927

Both the market and the price were well established. There were no sales of pulp stone quarries in the United States during the year 1915. … Two credible and thoroughly qualified witnesses testified unequivocally that the assets acquired by the petitioner in exchange for its stock were worth at least $250,000 on the date of their acquisition by the corporation

Pennsylvania Co. for Ins., etc. v. Commissioner

25 B.T.A. 1168 · United States Board of Tax Appeals · Apr 18, 1932

Societies to assist the authorities in the enforcement of such laws have been established in many jurisdictions. … It would stop the use of animals for the development of all the serums now used to immunize against disease or to relieve and cure after infection. The health and strength of its people are a nation's greatest asset.

Stephenson & Potter v. Glander

46 Ohio Law. Abs. 203 · United States Board of Tax Appeals · May 21, 1946

the property of such companies but is a tax on the capital and surplus of such companies having capital divided into shares, and upon the surplus of such companies that do not have capital divided into shares, such tax is clearly … That immunity always has been deemed an attribute of national supremacy and essential to its maintenance.

Krause v. Commissioner

32 B.T.A. 254 · United States Board of Tax Appeals · Mar 20, 1935

Krause, respectively, qualified as such and on December 29, 1928, filed with the collector of internal revenue for the district of Maine a Federal estate tax return reporting a net estate of $460,370.27. … The Supreme Court said at page 243: The record fails clearly to disclose whether or no Mrs. May survived her husband. Apparently she did not.

Newman v. Commissioner

31 B.T.A. 772 · United States Board of Tax Appeals · Nov 28, 1934

The preliminary discussions and the contract of January 6, 1925, establish the intention to be an ultimate exchange of second preferred for common, so that the sons would hold all the common and the father all the second … Decedent's will clearly recognized the interests created by the contract of January 6, 1925, and provided for the carrying out of its terms.

Metropolitan Business College v. Commissioner

5 B.T.A. 10 · United States Board of Tax Appeals · Oct 4, 1926

The business came to each of the branch schools just as it did to the parent school prior to the establishment of the branches. … In the opinion of the Board, the facts in this case clearly distinguish it from the Bryant & Stratton appeal.

Savannah River Lumber Co. v. Commissioner

14 B.T.A. 165 · United States Board of Tax Appeals · Nov 14, 1928

The economic unity of the Savannah River group of companies is clearly established. … The control of the stocks of these companies by Lee, Higginson & Co. during the years 1918 to 1921, inclusive, is likewise clearly established.

Fay v. Commissioner

34 B.T.A. 662 · United States Board of Tax Appeals · Jun 3, 1936

Blacker were duly qualified and appointed as executors of the decedent's estate. Fay died on January 14, 1935, and Nellie C. Blacker is now acting as sole executor. … First hereof particularly specified and described for the purposes and subject to the agreements and conditions, and upon the trusts and confidences, hereinafter expressed, and for that purpose, the parties hereto desire to establish

Gulf, Mobile & N. R.R. v. Commissioner

22 B.T.A. 233 · United States Board of Tax Appeals · Feb 20, 1931

The facts of record in this case clearly require the application of the same principle. … The facts of record in this case clearly require the application of the same principle.

Walker v. Commissioner

6 B.T.A. 1142 · United States Board of Tax Appeals · Apr 29, 1927

The value thus established is also borne out by the testimony of the witnesses, two of whom, E. G. Palmer and George O. Baird, *1152 are experienced oil men. The amounts received by Mrs. Walker and Mrs. … It clearly appears that the vendors and vendees were claiming under adverse titles, and that the purpose of the agreement was not to recognize the rights of each other, but to settle the controversy by a compromise of that

Doernbecher Manufacturing Co. v. Commissioner

30 B.T.A. 973 · United States Board of Tax Appeals · Jun 21, 1934

. *986 The petitioner offered the testimony of witnesses to establish what amounts would constitute reasonable salaries for Green and John. … If title remained in John the stock clearly was outstanding.

Jaeger v. Commissioner

33 B.T.A. 989 · United States Board of Tax Appeals · Jan 28, 1936

Jaeger, a son, who is the duly appointed, qualified, and acting executor of decedent's estate and the petitioner herein. The last will and testament of decedent was dated January 25, 1927. … Petitioner's own evidence clearly establishes that none of the donees did in fact exercise any dominion and control over the property or derive any benefit therefrom prior to decedent's death.

Kentucky Oil Corp. v. Commissioner

21 B.T.A. 1150 · United States Board of Tax Appeals · Jan 14, 1931

In all cases the Trustees who have *2245 been duly selected and qualified to administer said Trust Estate shall hold their office and shall act as such Trustee until their successors may be duly selected and qualified, except … The respondent admits the fact that the Production Co. was a common law trust, and this fact is clearly established by the declaration of trust under which the company was organized.

Ames v. Commissioner

1 B.T.A. 63 · United States Board of Tax Appeals · Nov 17, 1924

It was a creature which he called into being and utilized to carry on that business, and being the creator, the actual head, and the mind directing the business, it was only natural that he should not distinguish clearly, … Section 200 of the Revenue Act of 1918 requires, in order that a corporation may qualify as a personal service corporation: 1.

West Side Tennis Club v. Commissioner

39 B.T.A. 149 · United States Board of Tax Appeals · Jan 20, 1939

It was not necessary for an applicant for admission to the tournaments, in order to be in a position to qualify as a spectator, to manifest the same interest in tennis or the normal social and recreational activities of the … We conclude that the petitioner has failed to establish its right to exemption and accordingly sustain the action of the respondent in holding it to be subject to tax.