Case law

Kingsbury v. Commissioner

31 B.T.A. 1126 · United States Board of Tax Appeals · Jan 29, 1935

Respondent cites *1048 ; affd., , and In our judgment these cases clearly support the conclusion that a taxable event occurred in 1926. … In the instant cases it was neither pleaded nor does the record reveal the facts necessary to establish the same. In Docket No. 56382 K. R.

Kirby v. Commissioner

35 B.T.A. 578 · United States Board of Tax Appeals · Mar 9, 1937

Rawcliffe in respect of the qualifying single share in his name, to John H. Kirby in respect of the qualifying single share in his name, and to J.F.B. … Clearly, the Kirby Lumber Co. was a party to a reorganization under section 203(h)(2), Act of 1926, 3 and section 112(i)(2) of the 1928 Act.

Ann Arbor R.R. v. Commissioner

29 B.T.A. 331 · United States Board of Tax Appeals · Nov 14, 1933

I think I should qualify that, though, by the statement that for the first three months in 1920, 16 of the main line derailments were occasioned by ice on the track, — ■ we had a very severe ice storm in the first of 1920 … Clearly no amount expended by the New Haven Co. can be included in the Ann Arbor’s cost basis, and this is not argued.

Fidelity Title & Trust Co. v. Commissioner

10 B.T.A. 482 · United States Board of Tax Appeals · Feb 2, 1928

Hostetter qualified and are acting as executors under his last will and testament. (1) On March 17, 1920, said D. … Conceding that such sales *4113 may not satisfactorily establish the market price of such a block as was owned by the taxpayer, the record fails to establish a greater value.

Federal Advertising Agency, Inc. v. Commissioner

19 B.T.A. 1126 · United States Board of Tax Appeals · May 26, 1930

When he came with petitioner he was told that when petitioner felt he was qualified to become a principal in the firm he would be given an opportunity to purchase stock. His stock was issued to him in October, 1919. F. … The evidence establishes clearly that the stock was put in Mrs.

American Cigar Co. v. Commissioner

21 B.T.A. 464 · United States Board of Tax Appeals · Nov 29, 1930

These facts have not been established and we will not disturb the Commissioner’s determination on this point. 8. … Thus, the additional income taxes for the years 1914 to 1916, inclusive, are clearly not deductible.

John R. Thompson Sec. Corp. v. Commissioner

33 B.T.A. 1011 · United States Board of Tax Appeals · Feb 6, 1936

Henriksen as directors' qualifying shares. … We think it clearly established that these securities were acquired by petitioner in connection with a reorganization, and that they did not represent "stock or securities in a corporation a party to a reorganization."

National Water Main Cleaning Co. v. Commissioner

16 B.T.A. 223 · United States Board of Tax Appeals · Apr 26, 1929

An opinion as to the monetary value of a patent, by a witness qualified to judge the effectiveness of the patented device, which opinion involves considerations and confusions which render it *2615 of slight weight, will … However clearly it may have enhanced the *2654 expectation of future business, there was no reasonably sound basis for measuring probable earnings.

Title Guarantee & Trust Co. v. Commissioner

40 B.T.A. 475 · United States Board of Tax Appeals · Aug 18, 1939

On the date of decedent's death a trust established for her benefit owned corporate bonds upon which interest was due. The interest was subsequently collected and credited to trust income. … We are of the opinion that Congress clearly had the power to enact the legislation and that in doing so it did not act arbitrarily.

Haight v. Commissioner

14 B.T.A. 844 · United States Board of Tax Appeals · Dec 20, 1928

By reason of his detailed contact with and work in the subject matter during his incumbency of the office of attorney aforesaid, Adcock became specially qualified and vitally essential in carrying on the representation and … We think that Adcock clearly was not an officer of a political subdivision of the State of Illinois.

Lang v. Commissioner

45 B.T.A. 256 · United States Board of Tax Appeals · Oct 3, 1941

Clearly, it was not interest in “the usual, ordinary and everyday meaning of the term.” Old Colony Railroad Co. v. Com missioner, 284 U. S. 552 . … They qualify and limit the remainder of the sentence. Therefore it must be shown that the gains, profits, and income were both fixed or determinable and annual or periodical.

HAZLETON CORP. v. COMMISSIONER

36 B.T.A. 908 · United States Board of Tax Appeals · Nov 23, 1937

The transfer by the Delaware corporation of a portion of its assets to the Nevada corporation in exchange for all of the shares of stock of the latter qualified as a "statutory reorganization" under section 112(i)(1) of the … Since the evidence clearly establishes that the petitioner sold its shares of stock in the Nevada corporation in Canada, and not in the United States, the profit realized from the sale is not subject to Federal income tax

Haussermann v. Commissioner

23 B.T.A. 378 · United States Board of Tax Appeals · May 25, 1931

Article I provides: The management of the Corporation shall be delegated to five directors, who shall serve for one year and until their successors are elected and qualified. … Clearly, subdivisions (1) and (2), the latter of which pertains only to corporations, must be read in the conjunctive form.

Cecil v. Commissioner

37 B.T.A. 904 · United States Board of Tax Appeals · May 19, 1938

provided for in this title shall be taken for the taxable year in which "paid or accrued" or "paid or incurred", dependent upon the method of accounting upon the basis of which the net imcome is computed, unless in order to clearly … the ownership and operation of the Biltmore Estate, exclusive of the Dairy Farms, is not a trade or business within the meaning of Section 23(a), supra, and the allocated sum of $36,309.18, or any part thereof, does not qualify

Godfrey v. Commissioner

18 B.T.A. 775 · United States Board of Tax Appeals · Jan 14, 1930

The First National Bank is a banking corporation of Bridgeport, Conn., and is the duly qualified and acting executor of the estate of Charles G. … The majority opinion holds the respondent has not sustained his burden of establishing the sufficiency of the waivers.

Berry v. Commissioner

44 B.T.A. 1254 · United States Board of Tax Appeals · Aug 15, 1941

Berry has been and now is the duly appointed, qualified and acting executrix of the estate of decedent. Hope C. … On or about July 1, 1916, Sears established the "Sears, Roebuck and Co.'

De Reuter v. Commissioner

7 B.T.A. 600 · United States Board of Tax Appeals · Jul 8, 1927

proprietor of the "New York Herald," and therefore to that end and to effectuate my said intention and purpose, I direct the Executors of this my Will hereinafter named and such of them as shall qualify and the survivors … Annual taxes on principal are deducted from a use or income *3162 but not from annuities. * * * Where the testator sets aside a fund to provide for the payment of an annuity, his will should clearly indicate whether he intends

Gano v. Commissioner

19 B.T.A. 518 · United States Board of Tax Appeals · Apr 8, 1930

The remaining 10 shares were issued to qualify directors of the new corporation. … It is established that although in 1913 Ethel P.

Esperson v. Commissioner

13 B.T.A. 596 · United States Board of Tax Appeals · Sep 27, 1928

In fact, it is not clearly established that Mattison & Black, through whom the case apparently came to Newton, were authorized representatives on January 7, 1924, or that the petitioner was aware at this time of Newton's … The Commissioner was not misled, as his reply clearly *3256 shows.

Clovis v. Commissioner

32 B.T.A. 646 · United States Board of Tax Appeals · May 23, 1935

Hoge, is the duly qualified and acting executrix of the estate of Arthur K. Hoge, deceased, under the authority of the County Court of Ohio County, West Virginia. About 1925 C. E. … However, the evidence establishes that this was merely for convenience and that the reason for using this form was because it was in common usage in the community.