Reports of the Tax Court of the United States, Volume 39U.S. Government Printing Office, 1963 |
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Common terms and phrases
acquired agreed agreement amended amount annuity apply assets August 31 bank basis capital gain cash certiorari claimed Clyborne coal Company contends contract contractor corporation cost Court decedent decedent's December 31 deduction deficiency director of internal distribution district director dividends Docket East Islip employee entitled estate tax exchange exemption expenses fair market value Federal income tax fees filed follows funds gift tax gross income held included income tax returns installment interest Internal Revenue Code issue Jarboe lease liability liquidation loans loss marital deduction ment mortgages operating ordinary income paid Paragon parties partnership payable payments percent peti petitioner petitioner's Pinal County prior purchase purposes pursuant Ralston Purina Company received Reffett respect Respondent determined respondent's royalty September 30 shares sold spouse stipulated stockholders supra taxable income taxpayer tion tioner tract transaction transfer trust United
Popular passages
Page 107 - ... Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private shareholder or individual, no substantial part of the activities of which is carrying on propaganda, or otherwise attempting, to influence legislation, and which does not...
Page 121 - partnership" Includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture Is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation; and the term "partner" includes a member In such a syndicate, group, pool, joint venture, or organization.
Page 113 - An individual shall be considered as owning the stock owned, directly or indirectly, by or for his family or by or for his partner.
Page 225 - Nature and extent of contribution to the defense effort, including inventive and developmental contribution and cooperation with the Government and other contractors in supplying technical assistance; 5.
Page 373 - Stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 491 - No gain or loss shall be recognized If property is transferred to a corporation by one or more persons solely In exchange for stock or securities in such corporation, and Immediately after the exchange such person or persons are in control of the corporation...
Page 154 - ... stock the assumption by the acquiring corporation of a liability of the other, or the fact that property acquired is subject to a liability, shall be...
Page 14 - ... (b) Sales of realty and casual sales of personalty. — In the case (1) of a casual sale or other casual disposition of personal property (other than property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year), for a. price exceeding $1,000...
Page 51 - ... a transfer by a corporation of all or a part of its assets to another corporation if immediately after the transfer the transferor, or...
Page 221 - Such other factors the consideration of which the public interest and fair and equitable dealing may require, which factors shall be published in the regulations of the Board from time to time as adopted. (f) PROFITS DERIVED FROM CONTRACTS WITH THE DEPARTMENTS AND SUBCONTRACTS.