Appeal of E. C. Mines Lithographing Co.

Board of Tax Appeals

Appeal of E. C. Mines Lithographing Co.

1 B.T.A. 588

CourtUnited States Board of Tax Appeals

DecidedFebruary 13, 1925

DocketDocket No. 468

StatusPublished

Cited by1 cases

This text of 1 B.T.A. 588 (Appeal of E. C. Mines Lithographing Co.) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Appeal of E. C. Mines Lithographing Co., 1 B.T.A. 588 (bta 1925).

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Opinion

[589]*589DECISION.

The amount of taxable income received by the taxpayer in settlement of its claim against the judgment debtor is the difference between the market value of the shares of stock received, namely, $8,250, and the amount paid by the taxpayer in 1910 as the cost of procuring the judgment, namely, $115.84.

The deficiency in tax should be recomputed in accordance with the foregoing. Final decision will be settled either on consent or on 10 days’ notice in accordance with Rule 50.

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[589]*589DECISION.

The amount of taxable income received by the taxpayer in settlement of its claim against the judgment debtor is the difference between the market value of the shares of stock received, namely, $8,250, and the amount paid by the taxpayer in 1910 as the cost of procuring the judgment, namely, $115.84.

The deficiency in tax should be recomputed in accordance with the foregoing. Final decision will be settled either on consent or on 10 days’ notice in accordance with Rule 50.

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Bluebook (online)

1 B.T.A. 588, Counsel Stack Legal Research, https://law.counselstack.com/opinion/appeal-of-e-c-mines-lithographing-co-bta-1925.

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