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Bondholders Committee v. Commissioner, 315 U.S. 189 (1942)
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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.
Bondholders Committee v. Commissioner, 315 U.S. 189 (1942)
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Palm Springs Holding Corp. v. Commissioner of Internal Revenue No. 503 Argued January 15, 1942 Decided Feruary 2, 1942 315 U.S. 185
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE NINTH CIRCUIT
Syllabus
Pursuant to a plan made by indenture bondholders of an insolvent corporation, a new corporation was formed which acquired more than one-half of the bond issue in exchange for shares of its stock issued to bondholder creditors, but none of which was issued to any present or former stockholder of the old corportion for any right of his qua stockholder, and the properties of the old corporation were bought in and acquired by the new corporation at trustee’s foreclosure sale. Held, a "reorganization" within the meaning of § 112(i)(1)(A) of the Revenue Act of 1932. Helvering v. Alabama Asphaltic Limestone Co., ante p. 179. P. 188.
119 F.2d 846 reversed.
Certiorari, 314 U.S. 8, to review a judgment sustaining a deficiency assessment which had been sustained in part by the Board of Tax Appeals.
Contents:
Chicago:
U.S. Supreme Court, "Syllabus," Bondholders Committee v. Commissioner, 315 U.S. 189 (1942) in 315 U.S. 185 315 U.S. 186. Original Sources, accessed July 1, 2025, http://www.originalsources.com/Document.aspx?DocID=F2KUW9RP5CNSB4M.
MLA:
U.S. Supreme Court. "Syllabus." Bondholders Committee v. Commissioner, 315 U.S. 189 (1942), in 315 U.S. 185, page 315 U.S. 186. Original Sources. 1 Jul. 2025. http://www.originalsources.com/Document.aspx?DocID=F2KUW9RP5CNSB4M.
Harvard:
U.S. Supreme Court, 'Syllabus' in Bondholders Committee v. Commissioner, 315 U.S. 189 (1942). cited in 1942, 315 U.S. 185, pp.315 U.S. 186. Original Sources, retrieved 1 July 2025, from http://www.originalsources.com/Document.aspx?DocID=F2KUW9RP5CNSB4M.
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