Rubenstein v. Commissioner

Board of Tax Appeals

Rubenstein v. Commissioner

10 B.T.A. 864, 1928 BTA LEXIS 4020

CourtUnited States Board of Tax Appeals

DecidedFebruary 17, 1928

DocketDocket No. 3795.

StatusPublished

Cited by2 cases

This text of 10 B.T.A. 864 (Rubenstein 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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Rubenstein v. Commissioner, 10 B.T.A. 864, 1928 BTA LEXIS 4020 (bta 1928).

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Opinion

[865]*865OPINION.

MoRRis:

The sole question presented by this proceeding is whether the respondent was justified in increasing the value of good will of the decedent’s business, as returned by his estate.

Considering the decedent’s death and the undoubted loss to the business thereby, coupled with the offers made for the good will by prospective purchasers, the potential competition in the immediate vicinity of the decedent’s business which greatly threatened its future prosperity, the highly specialized nature of the business and the sale at par of $15,000 of the capital stock of the subsequently organized corporation which took over the good will of the business at $25,000, all of which elements were carefully considered by the estate in arriving at the value returned, we are of the opinion that the respondent was in error in increasing the value of the good will to $37,500.

Judgment will be entered for the ‘petitioner upon 15 days' notice, under Bule 50,

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[865]*865OPINION.

MoRRis:

The sole question presented by this proceeding is whether the respondent was justified in increasing the value of good will of the decedent’s business, as returned by his estate.

Considering the decedent’s death and the undoubted loss to the business thereby, coupled with the offers made for the good will by prospective purchasers, the potential competition in the immediate vicinity of the decedent’s business which greatly threatened its future prosperity, the highly specialized nature of the business and the sale at par of $15,000 of the capital stock of the subsequently organized corporation which took over the good will of the business at $25,000, all of which elements were carefully considered by the estate in arriving at the value returned, we are of the opinion that the respondent was in error in increasing the value of the good will to $37,500.

Judgment will be entered for the ‘petitioner upon 15 days' notice, under Bule 50,

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10 B.T.A. 864, 1928 BTA LEXIS 4020, Counsel Stack Legal Research, https://law.counselstack.com/opinion/rubenstein-v-commissioner-bta-1928.

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