CORCO OIL REFINING CORPORATION v. HELVERING


72 F.2d 177 (1934)

CORCO OIL REFINING CORPORATION v. HELVERING, Com'r of Internal Revenue.

United States Court of Appeals for the District of Columbia.

Decided June 18, 1934.


Attorney(s) appearing for the Case

Henry A. McCarthy, of Philadelphia, Pa., for petitioner.

Frank J. Wideman, Asst. Atty. Gen., and Sewall Key, Louise Foster, E. B. Prettyman, R. H. Jackson, and Nathan Gammon, all of Washington, D. C., for respondent.

Before MARTIN, Chief Justice, and ROBB, VAN ORSDEL, and GRONER, Associate Justices.


MARTIN, Chief Justice.

This is an appeal from a decision of the Board of Tax Appeals in a proceeding brought for the redetermination of a deficiency in income taxes of petitioner for the year 1928.

It appears that the petitioner, the Corco Oil Refining Corporation, was incorporated under the laws of the state of Delaware with an authorized capital of $150,000 divided into 1,500 shares of the par value of $100 each. These shares became the property of the Crystal...

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