BALLWOOD CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 5674.

84 F.2d 733 (1936)

BALLWOOD CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Third Circuit.

June 3, 1936.


Attorney(s) appearing for the Case

Morgan S. Kaufman, of Scranton, Pa., and S. Leo Ruslander, R. J. Cleary, and Wm. A. Seifert, all of Pittsburgh, Pa., for petitioner.

Frank J. Wideman, Asst. Atty. Gen., Sewall Key and Lucius A. Buck, Sp. Assts. to Atty. Gen., and Morton K. Rothschild, of Washington, D. C., for respondent.

Before BUFFINGTON, DAVIS, and THOMPSON, Circuit Judges.


THOMPSON, Circuit Judge.

This is a petition for rehearing of a decision of this court in Ballwood Company v. Commissioner, filed July 16, 1935, in which in a per curiam opinion we affirmed a decision of the Board of Tax Appeals.

The petitioner, in accordance with an agreement made with the Midwest Pipe & Supply Company, hereinafter called Midwest, conveyed its pipe fabricating assets representing approximately 29 per cent. of its total assets to the Ballwood...

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