18 B.T.A. 930
United States Board of Tax Appeals
Decided January 27, 1930
United States Board of Tax Appeals · decided 1930-01-27
An amount paid by his associates to a retiring partner as consideration of his claim on commissions earned before his retirement held to be a capital investment.
Cited by 1 later decisions — most recently January 1952
Relies on Plender v. Commissioner
Good law ✅— No negative treatment on recordhow we know
Decided 1930-01-27
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¶1OPINION.
¶2On the facts as set forth above the determination of the Commissioner must be approved. Prior to December 31, 1923. *931Pincus, Sachs, and Brown owned interests in a business partnership and on that date Brown sold his share thereof to the other two partners and thereafter had no interest in the good will or other assets of the concern. Sir William Plender, 2 B. T. A. 940.
¶3Decision will be entered for the respondent.