TAYLOR v. COMMISSIONER OF INTERNAL REVENUE

No. 283.

70 F.2d 619 (1934)

TAYLOR v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

May 7, 1934.


Attorney(s) appearing for the Case

Trumen Henson, of New York City, for appellant.

Frank J. Wideman, Asst. Atty. Gen., and Sewall Key and Walter L. Barlow, Sp. Assts. to Atty. Gen., for appellee.

Before MANTON, L. HAND, and CHASE, Circuit Judges.


L. HAND, Circuit Judge.

This appeal (petition to review) is from an order of the Board of Tax Appeals fixing a deficiency in the taxpayer's income tax for 1928, under the following circumstances: In October, 1927, he bought the shares of three small lighting companies in Vermont, and all the assets of a fourth. For all four he paid $96,000, and he at once organized a separate company to which in consideration of all its shares he conveyed the assets of the fourth...

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