Bus & Transport Securities Corp. v. Helvering, 296 U.S. 391 (1935)

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Bus & Transport Securities Corp. v. Helvering

No. 490

Argued November 20, 1935
Decided December 16, 1935
296 U.S. 391

CERTIORARI TO THE CIRCUIT COURT OF APPEALS

FOR THE THIRD CIRCUIT

Syllabus

A corporation transferred shares of stock which it owned to another corporation in exchange for shares of stock which the latter owned, neither party to the exchange acquiring any definite immediate interest in the other. Held, not a reorganization within § 112 of the Revenue Act of 1928. P. 393.

79 F.2d 509 affirmed.

Certiorari to review a judgment affirming a decision of the Board of Tax Appeals which sustained an order determining a deficiency in income tax.