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Turnbow v. Commissioner, 368 U.S. 337 (1961)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Turnbow v. Commissioner, 368 U.S. 337 (1961)
Turnbow v. Commissioner of Internal Revenue No. 60 Argued November 15-16, 1961 Decided December 18, 1961 368 U.S. 337
CERTIORARI TO THE UNITED STATES COURT OF APPEALS
FOR THE NINTH CIRCUIT
Syllabus
In the absence of a "reorganization," as that term is defined in § 112(g)(1)(B) and used in §112(b)(3) of the Internal Revenue Code of 1939, the gain on an exchange of stock for stock plus cash is to be recognized in full. The taxpayer is not entitled under § 112(c)(1) to have it recognized only to the extent of the cash. Pp. 337-344.
286 F.2d 669 affirmed.
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Chicago:
U.S. Supreme Court, "Syllabus," Turnbow v. Commissioner, 368 U.S. 337 (1961) in 368 U.S. 337 Original Sources, accessed July 1, 2025, http://www.originalsources.com/Document.aspx?DocID=DQWTMTRS9QGQJY2.
MLA:
U.S. Supreme Court. "Syllabus." Turnbow v. Commissioner, 368 U.S. 337 (1961), in 368 U.S. 337, Original Sources. 1 Jul. 2025. http://www.originalsources.com/Document.aspx?DocID=DQWTMTRS9QGQJY2.
Harvard:
U.S. Supreme Court, 'Syllabus' in Turnbow v. Commissioner, 368 U.S. 337 (1961). cited in 1961, 368 U.S. 337. Original Sources, retrieved 1 July 2025, from http://www.originalsources.com/Document.aspx?DocID=DQWTMTRS9QGQJY2.
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