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This document summarizes a Supreme Court case from 1988 regarding double taxation and tax exemption. It describes how the Pacheco family exchanged land they owned for shares in their family corporation, Delpher Trades Corp., in order to avoid estate taxes and maintain control over the property. The Court upheld the tax exemption, finding that the NIRC allows individuals to exchange property for controlling shares of a corporation without recognizing gain or loss for tax purposes. Forming a family corporatio

Author

Ivan Luzuriaga

Language

EN