J. LANDIS SHOE COMPANY v. COMMISSIONER OF INTERNAL REVENUE

J. LANDIS SHOE COMPANY v. COMMISSIONER OF INTERNAL REVENUE. Circuit Court of Appeals, Third Circuit. September 4, 1929. No. 4008. Earle W. Walliek and Ben Jenkins, both of Washington, D. C., for petitioner. Mabel Walker Willebrandt, Asst. Atty. Gen., Sewall Key and Andrew D. Sharpe, Sp. Asst. Attys. Gen., and C. M. Charest, Gen. Counsel, and D. V. Hunter, Sp. Asst., Bureau of Internal Revenue, both of Washington, D. C., for respondent. Before BUFFINGTON, WOOLLEY, and DAVIS, Circuit Judges. [MAJORITY — BUFFINGTON, Circuit Judge.] BUFFINGTON, Circuit Judge. This is an appeal from a decision of the Board of Tax Appeals. No principles of taxation of general interest are involved, and the ease depends on its own particular facts growing .out of the. exchange of the capital stoek of one company for the stock of another, and an agreement that the profit realized from the sale of the finished goods the Landis Company had on hand should be prorated and a proper share allocated to the Landis shareholders. The entire facts and all phases of the case are stated, dismissed and disposed of in the opinion of the Tax Board. Finding no error, therefore, and regarding an opinion of this court as necessarily but a restatement, we limit ourselves to affirming the judgment of the Tax Board.