Reports of the U.S. Board of Tax Appeals, Volume 33U.S. Government Printing Office, 1936 - Taxation |
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Common terms and phrases
acquired agreement amount assets basis beneficiary Bismarck Tribune Board bonds capital stock cash certificates certiorari claim COMMISSIONER OF INTERNAL common stock computing contends contract corporation cost Court death decedent decedent's December 31 deduction deficiency determined distribution dividend Docket entitled escrow exchange Executors fact fair market value filed fund gain or loss grantor gross estate gross income held Helvering included income tax income tax return interest INTERNAL REVENUE investment issue loan March mortgage National Bank net income Old Firm opinion paid par value parties partnership payment percent peti petitioner petitioner's policies preferred stock prior proceeding profits purchase purpose question received reorganization reserve respondent respondent's Revenue Act securities shares of stock Sinclair Oil sold statute stipulated stockholders supra syndicate taxpayer Telfener thereof tion tioner transaction transfer trust trust instrument United Waterbury wife
Popular passages
Page 188 - ... for his life or for any period not ascertainable without reference to his death or for any period which does not in fact end before his death...
Page 188 - To the extent of any interest therein of which the decedent has at any time made a transfer, by trust or otherwise, where the enjoyment thereof was subject at the date of his death to any change through the exercise of a power, either by the decedent alone or in conjunction with any person, to alter, amend? or revoke...
Page 458 - reorganization' means (A) a merger or eonsoliiUition (including the acquisition by one corporation o£ at least a majority of the voting stock and at least a majority of the total number of shares of all other classes of stock of another corporation, or substantially all the properties of another corporation...
Page 24 - ... shall be the same as it would be in the hands of the transferor, increased iu the amount of gain or decreased in the amount of loss recognized to the transferor upon such transfer under the law applicable to the year in which the transfer was made.
Page 870 - In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion and for depreciation of Improvements, accordIng to the peculiar conditions in each case...
Page 38 - The amount of all items of gross income shall be included in the gross income for the taxable year in which received by the taxpayer, unless, under methods of accounting permitted under section 41, any such amounts are to be properly accounted for as of a different period.
Page 274 - ... in the case of income which, in the discretion of the fiduciary, may be either distributed to the beneficiary or accumulated, there shall be allowed as an additional deduction in computing the net income of the estate or trust the amount of the income of the estate or trust for its taxable year which is properly paid or credited during such year to any legatee, heir or beneficiary...
Page 38 - Gross income" includes gains, profits, and income derived from salaries, wages, or compensation for personal service, of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property; also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and income derived...
Page 664 - If a corporation cancels or redeems its stock (whether or not such stock was issued as a stock dividend) at such time and in such manner as to make the distribution and cancellation or redemption in whole or in part essentially equivalent to the distribution of a taxable dividend...
Page 360 - No gain or loss shall be recognized if stock or securities in a corporation a party to a reorganization are, in pursuance of the plan of reorganization, exchanged solely for stock or securities in such corporation or in another corporation a party to the reorganization.