Case law

Crellin v. Commissioner

46 B.T.A. 1152 · United States Board of Tax Appeals · May 13, 1942

Such a trust would be a means of providing for education, without personal specification or identification of the young people of a church of the community, and this would be enough to establish the charitable character of … Clearly if the opening paragraph of eighth were followed only by a list of three persons who were the children of the settlor, it would not serve to give a charitable character to the trust.

Jeffries v. Commissioner

37 B.T.A. 742 · United States Board of Tax Appeals · Apr 22, 1938

By legislative enactment approved June 10, 1919, the state established a district then known as the Palm Beach Drainage and Highway District. … Clearly the objects and powers of that district are so varied and different from *1007 those of the district involved here that our decision there may not be said to be controlling in the instant case.

R. L. Blaffer & Co. v. Commissioner

37 B.T.A. 851 · United States Board of Tax Appeals · May 17, 1938

Drastic as the tax may be, the statute clearly expresses the legislative intent to apply it to a mere holding or investment corporation unless the corporation succeeds in establishing its purpose to be wholly other than that … That petitioner was not "a mere holding or investment company" is clearly established by the record. A "mere" holding or investment company is obviously one whose sole function is to hold property or make investments.

Mathews v. Commissioner

13 B.T.A. 1133 · United States Board of Tax Appeals · Oct 18, 1928

under the jurisdiction of the Public Service Commission of said City and incidentally to render such advice to the City Attorney and said Commission which his long association with the City's legal department peculiarly qualifies … The Supreme Court, in affirming the decision of the district court, said in part: Nor do the facts stated in the bill of exceptions establish that the plaintiffs were "employees" within the meaning of the statute.

Kuldell v. Commissioner

34 B.T.A. 1116 · United States Board of Tax Appeals · Oct 16, 1936

The cases were consolidated for hearing, the facts being established by testimony of witnesses at the hearing, documentary evidence, and agreed stipulation. FINDINGS OF FACT. In April or May 1930, petitioner R. C. … His written instructions to the Houston Land & Trust Co., which were followed, indicate clearly that it was his desire to transfer to the Mount Rose Co.

Tyler v. Commissioner

9 B.T.A. 255 · United States Board of Tax Appeals · Nov 23, 1927

Dempsey, who were nominated as executors in the will and codicils thereto, were duly appointed and qualified as such executors. … Under the statute it was clearly the duty of the present Commissioner to determine the petitioner's true tax liability at any time within five years from the date the return was filed, and we are of the opinion that since

Marx v. Commissioner

39 B.T.A. 537 · United States Board of Tax Appeals · Mar 7, 1939

The bank surrendered its right to qualify as testamentary trustee. During the year 1927 Emily Marx, one of the petitioners herein, at the request of Joseph E. … This proceeding comes clearly within the general principles discussed in United States Trust Co. v. Commissioner, supra , which is controlling here.

Houston Brothers v. Commissioner

22 B.T.A. 51 · United States Board of Tax Appeals · Feb 4, 1931

We do not think that the evidence introduced in the instant case establishes any such relationship as existed in the OoTien case. Although George T. … The evidence clearly shows that, generally speaking, petitioners’ timber was of a very high grade. It was ideally located from the standpoint of economical logging.

General Motors Corp. v. Commissioner

35 B.T.A. 523 · United States Board of Tax Appeals · Feb 19, 1937

Clearly there is no difference in principle in these two transactions. … The gain petitioner derived is not immune from tax under article 543 of Treasury Regulations 69 , on the theory that a corporation dealing in its own stock realizes no gain.

L. J. Christopher Co. v. Commissioner

13 B.T.A. 729 · United States Board of Tax Appeals · Oct 2, 1928

Right to special assessment under section 328 of the Revenue Act of 1921 denied where the only facts established in evidence are the amount of income and the amount of invested capital of petitioner as determined by respondent … petitioner was the owner of practically all the capital stock of the California Company and had absolute control, and since the only distribution of earnings made in these seven years was by reason of these withdrawals, we are clearly

Webb & Bocorselski, Inc. v. Commissioner

1 B.T.A. 871 · United States Board of Tax Appeals · Mar 24, 1925

Both men worked long hours and suffered considerable privation in establishing their business, and succeeded, through their application, industry, ability, and skill, in developing a profitable business. 3. … Clearly this instrument reflects something more than a mere private and personal agreement between stockholders, for there is an undisguised intent and desire to benefit the corporation.

Lonsdale v. Commissioner

11 B.T.A. 659 · United States Board of Tax Appeals · Apr 18, 1928

As you know, we have established a Savings Department which now has nearly 50,000 depositors, with total deposits of over eight millions. … That which took place in this instance is clearly distinguishable from the cases of , and , on which petitioner places much emphasis. Those cases involved an issuance of stock dividends by the Gulf Oil Corporation.

Chicago, Indianapolis & Louisville Ry. v. Commissioner

10 B.T.A. 1143 · United States Board of Tax Appeals · Mar 1, 1928

such other appropriate name as may be agreed upon (hereinafter called the "Mining Company"), which shall have an authorized common capital stock of fifty thousand dollars ($50,000), all of which, except *3963 Directors' qualifying … Under such circumstances it was entirely proper to inquire into the intent of the parties in regard to the acts already performed in pursuance of the contract, for the purpose of establishing their respective rights growing

Brown v. Commissioner

29 B.T.A. 1183 · United States Board of Tax Appeals · Feb 23, 1934

The petitioners are the duly appointed, qualified, and acting executors of the estate of the decedent and as such maintain an office in Denver. … The facts appear to indicate quite clearly that the decedent made the gift in question as a part of the disposition of his property in the event of his death.

Fifth Ave. Bank v. Commissioner

36 B.T.A. 534 · United States Board of Tax Appeals · Sep 17, 1937

The petitioner is the duly qualified executor of the estate of Miriam Fisher, deceased. … The result is, that the place of residence is prima facie the domicil, unless there be some motive for that residence not inconsistent with a clearly established intention to retain a permanent residence in another place.

Imperial Furniture Co. v. Commissioner

9 B.T.A. 713 · United States Board of Tax Appeals · Dec 20, 1927

The new company has not yet attained a degree of success justifying a valuation of its preferred stock at a substantially larger figure than 50 per cent of par established as its worth by sales made at various times since … Clearly it was the intent that a deduction should be allowed for worthless *2542 debts in the year in which worthlessness was ascertained and that the charging off of the debt might take other forms than entries on the books

Natwick v. Commissioner

36 B.T.A. 866 · United States Board of Tax Appeals · Nov 12, 1937

These three were directors and stockholders, *647 the two latter holding only one qualifying share each at the time of the incorporation of the company, which was received from petitioner. … Babson, 27 B.T.A. 859 , at pages 866, 867 ; affd., 70 Fed.(2d) 304 ; see also note, 49 Harvard Law Review 1344 (1936) ; and we need do no more now than recall that the comparative immunity from taxation which stock dividends

Drake v. Commissioner

30 B.T.A. 461 · United States Board of Tax Appeals · Apr 24, 1934

The widow and two former business associates of O'Connor, being respectively at Dallas, Texas, and New York City, were made trustees under the will, all of whom accepted the trust and qualified under it. … Clearly the issue here is within the latter class of cases and the petitioner's contention must, therefore, be denied.

Buck v. Commissioner

25 B.T.A. 780 · United States Board of Tax Appeals · Mar 4, 1932

Coghlan is a well qualified expert on real estate values in San Francisco and has been appointed by the court in hundreds of cases for the purpose of determining values. … It was without an established market. Between February, 1919, and April, 1923, no dividends whatsoever were paid on the stock.

Northern Fire Apparatus Co. v. Commissioner

11 B.T.A. 355 · United States Board of Tax Appeals · Apr 2, 1928

Hunter shall be the treasurer thereof, and they shall hold their officers until the next annual meeting of the stockholders of said corporation; and until their respective successors are elected and shall have qualified. … The foregoing proposition is so well established that we deem it unnecessary to cite authorities, except one from Minnesota, as evidence that the same doctrine prevails in that State. See .