General Manifold & Printing Co. v. Commissioner

Board of Tax Appeals

General Manifold & Printing Co. v. Commissioner

12 B.T.A. 436, 1928 BTA LEXIS 3528

CourtUnited States Board of Tax Appeals

DecidedJune 7, 1928

DocketDocket No. 14577.

StatusPublished

Cited by1 cases

This text of 12 B.T.A. 436 (General Manifold & Printing Co. v. Commissioner) 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.

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General Manifold & Printing Co. v. Commissioner, 12 B.T.A. 436, 1928 BTA LEXIS 3528 (bta 1928).

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Opinion

[438]*438OPINION.

Littleton :

The issue is whether the purchase by petitioner in 1921 of its own bonds at ⅞ price below the face value thereof resulted in taxable income.

In other similar cases the Board has considered the question here involved and held that such transaction did not result in taxable income and on the authority of those decisions, this question is decided in favor of petitioner. Independent Brewing Co., 4 B. T. A. 810; New Orleans, Texas & Mexico Ry. Co., 6 B. T. A. 436; Houston Belt & Terminal Ry. Co., 6 B. T. A. 1364; and National Sugar Manufacturing Co., 7 B. T. A. 677.

Judgment will be entered v/nder Bule 50.

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