Griffiths v. Commissioner - 308 U.S. 355 (1939)
U.S. Supreme Court
Griffiths v. Commissioner, 308 U.S. 355 (1939)
Griffiths v. Commissioner of Internal Revenue
Argued December 5, 1939
Decided December 18, 1939
308 U.S. 355
A taxpayer cannot escape or postpone the income tax on the profit derived from a sale of his stock by interposing as vendor in the transaction a corporation formed for the purpose and wholly controlled by himself, which, in form, receives from him a conveyance of the shares, transfers them to the purchaser, receives the purchaser's money, and agrees to pay it over to the taxpayer in annual installments. P. 308 U. S. 357.
103 F.2d 110 affirmed.
Certiorari, post, p. 531, to review a decision which reversed an order of the Board of Tax Appeals, 37 B.T.A. 314, overruling a deficiency income tax assessment.