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HELVERING v. MINNESOTA TEA CO.

No. 174.

296 U.S. 378 (1935)

HELVERING, COMMISSIONER OF INTERNAL REVENUE, v. MINNESOTA TEA CO.

Supreme Court of United States.

Decided December 16, 1935.

Attorney(s) appearing for the Case

Mr. J. Louis Monarch, with whom Solicitor General Reed, Assistant Attorney General Wideman, and Messrs. James W. Morris and Sewall Key were on the brief, for petitioner.

Messrs. Homer Hendricks and James G. Nye, with whom Messrs. Oscar Mitchell, C.J. McGuire, and Robert N. Miller were on the brief, for respondents.

By leave of Court, Mr. James S.Y. Ivins filed a brief as amicus curiae supporting the proposition that the word "securities" as used in the reorganization sections of the Revenue Acts was intended to include corporation bonds.

MR. JUSTICE McREYNOLDS delivered the opinion of the Court.

No. 174.

Respondent, a Minnesota corporation with three stockholders, assailed a deficiency assessment for 1928 income tax, and prevailed below. The Commissioner seeks reversal. He claims the transaction out of which the assessment arose was not a reorganization within § 112, par. (i) (1) (A), Revenue Act, 1928, c. 852, 45 Stat. 791: "The term `reorganization' means (A) a merger or consolidation...

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