Forge Coal Mining Co. v. Commissioner
Cases that cite this one
1 later published case cites this decision.
- Mossberg Pressed Steel Corp. v. Commissioner (United States Board of Tax Appeals 1928)
This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.
Opinion
*975 Before JAMES, LITTLETON, and TRUSSELL.
This is an appeal from the determination of a deficiency in income and profits taxes for the years 1920 and 1921 in the amounts, respectively, of $3,689.28 and $858.01, a total of $4,547.29.
FINDINGS OF FACT.
The taxpayer is a Pennsylvania corporation, engaged in the mining of coal, and maintains its principal office in Philadelphia.
On March 22, 1921, the stockholders authorized an increase of its capital stock from $30,000 to $300,000, and, pursuant to this authorization, received subscription agreements on account of the issue of $150,000 of such stock in the following form:
MARCH 22, 1921.
FORGE COAL MINING CO.,
GENTLEMEN: I hereby subscribe to 500 shares, at $50.00 per share par value, of the additional issue of capital stock authorized at a special meeting of the stockholders held in Philadelphia on March 22, 1921, and agree to pay for the above subscription on demand.
Yours truly,
(Signed) WILLIAM A. SMITH.
The taxpayer in its return claimed invested capital*2207 on the entire amount of $150,000 from March 22, 1921, to the end of the year. The Commissioner has allowed invested capital
*976 DECISION.
The determination of the Commissioner is approved. .
Case-law data current through December 31, 2025. Source: CourtListener bulk data.