Illinois Smelting & Refining Co. v. Commissioner
This text of 16 B.T.A. 1410 (Illinois Smelting & Refining 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.
Opinion
[1411]*1411OPINION.
The only question involved in this proceeding is one of fact and depends upon the ownership of the Delaware & Hudson Railway Co. stock sold in 1922. The proof is overwhelming that the petitioner did not own any such stock, but that its president used the petitioner’s credit to purchase the stock on his own account and that of Mrs. Newberg. The determination of the Commissioner that the petitioner made a profit on the sale of the stock, therefore, is erroneous.
Jndginent of no ctefteiency will he entered for the petitioner.
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16 B.T.A. 1410, Counsel Stack Legal Research, https://law.counselstack.com/opinion/illinois-smelting-refining-co-v-commissioner-bta-1929.