Pinellas Ice & Cold Storage Co. v. Commissioner,
287 U.S. 462 (1933)

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U.S. Supreme Court

Pinellas Ice & Cold Storage Co. v. Commissioner, 287 U.S. 462 (1933)

Pinellas Ice & Cold Storage Co. v. Commissioner

No. 182

Argued December 12, 13, 1932

Decided January 9, 1933

287 U.S. 462



1. A sale by one corporation to another of all of its property for a money consideration part in cash and the remainder to be paid in installments, evidenced meanwhile by the promissory notes of the vendee, held not to be an "exchange" of property for cash and "securities" by a "party to a reorganization," within the meaning of § 203(b)(3)(h) of the Revenue Act of 1926, which provides that in the transactions to which it refers the gain or loss shall not be considered in computing the income tax of the transferor. P. 287 U. S. 468.

Page 287 U. S. 463

2. To constitute a "reorganization" within the meaning of § 203(b)(3)(h)(A) of the Revenue Act of 1926, it is not essential that there be a merger or consolidation in the technical sense. P. 287 U. S. 469.

57 F.2d 188 affirmed.

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