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NATIONAL GROCERY CO. v. HELVERING

No. 6324.

92 F.2d 931 (1937)

NATIONAL GROCERY CO. v. HELVERING, Commissioner of Internal Revenue.

Circuit Court of Appeals, Third Circuit.

October 21, 1937.

Attorney(s) appearing for the Case

McDermott, Enright & Carpenter, of Jersey City, N. J. (James D. Carpenter, Jr., of Jersey City, N. J., of counsel), for petitioner.

James W. Morris, Asst. Atty. Gen., and Sewall Key and A. F. Prescott, Sp. Assts. to Atty. Gen., and Harry Marselli, of Washington, D. C., for respondent.

John E. Hughes, of Chicago, Ill., Thomas G. Haight, of Jersey City, N. J., and Edwin J. Marshall, of Toledo, Ohio, amici curiæ.

Before BUFFINGTON and BIGGS, Circuit Judges, and DICKINSON, District Judge.

BUFFINGTON, Circuit Judge.

This case concerns the compulsory distribution and penalizing of corporate profits accumulated in excess of reasonable reserves and with intent to avoid surtax taxation. The statutory authority to impose the taxes rests on the Revenue Act of 1928, c. 852, 45 Stat. 791. Eight members of the Tax Board united in an opinion imposing the tax here involved, while seven others united in a dissenting opinion.

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