CHANROBLES VIRTUAL LAW LIBRARY
US LAWS, STATUTES and CODES : Chan Robles Virtual Law Library USA Supreme Court Decisions | Resolutions : Chan Robles Virtual Law Library

ChanRobles™ Virtual Law Library™ | chanrobles.com™   
Main Index Repository of Laws, Statutes and Codes Latest Philippine Supreme Court Decisions Chan Robles Virtual Law Library Latest Legal Updates Philippine Legal Resources Significant Philippine Legal Resources Worldwide Legal Resources Philippine Supreme Court Decisions United States Legal Resources United States Supreme Court Jurisprudence ChanRobles LawTube - Social Network

ChanRobles Internet Bar Review : www.chanroblesbar.com DebtKollect Company, Inc. - Debt Collection Firm Intellectual Property Division - Chan Robles Law Firm

Philippine Supreme Court DecisionsChanRobles On-Line Bar Review

google search for chanrobles.comSearch for www.chanrobles.com


GROMAN V. COMMISSIONER, 302 U. S. 82 (1937)

Subscribe to Cases that cite 302 U. S. 82 RSS feed for this section

U.S. Supreme Court

Groman v. Commissioner, 302 U.S. 82 (1937)

Groman v. Commissioner or Internal Revenue

No. 21

Argued October 21, 22, 1937

Decided November 8, 1937

302 U.S. 82

Syllabus

1. Section 112(i)(2) of the Revenue Act of 1928 declaring that the term party to a reorganization "includes" a corporation resulting from a reorganization, and both corporations when one acquires specified proportions of stock of another, is not an exclusive definition, but rather is intended to enlarge the meaning of the term beyond its ordinary connotation. P. 302 U. S. 85.

2. Pursuant to an agreement between a corporation (G) and shareholders of another corporation (I): -- G formed a new corporation (O), subscribing for its common stock and paying for it with cash and G's own preference shares; I's shareholders sold their shares to O and received from O a consideration made up of preference shares of G, and of O and cash; I then transferred its assets to O, and was dissolved. Held that G was not "a party" to the reorganization, and that the shares of G's preference stock received by I shareholders from O were a basis for computing taxable gain. Revenue Act of 1928, § 112. P. 302 U. S. 88.

86 F.2d 670 affirmed.

Certiorari, 301 U.S. 677, to review a judgment overruling an order of the Board of Tax Appeals and sustaining an income tax deficiency assessment. chanroblesvirtualawlibrary

Page 302 U. S. 83





Back
ChanRobles™ LawTube

google search for chanrobles.com Search for www.chanrobles.com


Supreme Court Decisions Philippine Supreme Court DecisionsUS Supreme Court Decisions



www.chanrobles.us




QUICK SEARCH

cralaw

Browse By ->> Volume


cralaw

Browse By ->> Year


cralaw

  Copyright © ChanRobles Publishing Company | Disclaimer | E-mail Restrictions
ChanRobles™ Virtual Law Library | chanrobles.com™
 
RED