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MINNESOTA TEA CO. v. HELVERING

No. 106.

302 U.S. 609 (1938)

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

Supreme Court of United States.

Decided January 17, 1938.

Attorney(s) appearing for the Case

Mr. James G. Nye for petitioner.

Mr. J. Louis Monarch, with whom Solicitor General Reed, Assistant Attorney General Morris, Messrs. Sewall Key and Maurice J. Mahoney were on the brief, for respondent.

MR. JUSTICE SUTHERLAND delivered the opinion of the Court.

Petitioner, in 1928, brought about the organization of the Peterson Investment Company, and transferred to it certain assets in exchange for the entire capital stock of that company. The stock was immediately distributed to petitioner's stockholders. Soon thereafter, petitioner transferred its remaining assets to Grand Union Company in exchange for 18,000 shares of that company's stock and $426,842.52 in cash...

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