G. & K. Manufacturing Co. v. Helvering, 296 U.S. 389 (1935)

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G. & K. Manufacturing Co. v. Helvering


No. 187


Argued November 20, 1935
Decided December 16, 1935
296 U.S. 389

CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE FOURTH CIRCUIT

Syllabus

1. A transfer by one corporation to another of substantially all of its assets for cash and common stock of the transferee corporation amounts to a reorganization under § 112(i)(1)(A) of the Revenue Act of 1928 even though the transferor corporation and its subsidiaries continued in business. P. 391.

2. The Board of Tax Appeals having omitted to make finding as to whether the transfer was of substantially all of the assets of the transferor corporation, the cause is remanded for determination by the Board of this essential fact. P. 391.

76 F.2d 454 reversed.

Certiorari to review a judgment affirming a decision of the Board of Tax Appeals which sustained a determination of a deficiency in income tax. Compare with the three cases preceding.