Hugo Black,
United States v. Hendler — Opinion of the Court
“ If the corporation receiving such other property or money does not distribute it in pursuance of the plan of reorganization, the gain, if any, to the corporation shall be recognized (taxed) .'In this case, there was a merger or 'reorganization' of the Borden Company and the Hendler Creamery Company, Inc., resulting in gains of more than $6,000,000 to the Hendler Company, Inc., a corporation of which respondent is transferee. The Court of Appeals, believing there was an exemption under section 112, affirmed [4] the judgment of the District Court [5] holding all Hendler gains nontaxable. ”
