SPARKS, Circuit Judge.
This petition for review filed by the Commissioner presents the question of whether or not the Board of Tax Appeals erred in denying that there was a deficiency in respondent's income tax for the year 1923, and that a penalty should be assessed thereon. The Board's decision was based on the ground that certain stock in a new corporation, exchanged together with $3,655,518 cash for the stock of an old corporation, had no readily realizable market...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.