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TRADING ASSOCIATES CORPORATION v. MAGRUDER

No. 300.

30 F.Supp. 978 (1940)

TRADING ASSOCIATES CORPORATION v. MAGRUDER, Collector of Internal Revenue.

District Court, D. Maryland.

January 8, 1940.

Attorney(s) appearing for the Case

France, Rouzer & Lentz, and Kenneth C. Proctor, all of Baltimore, Md., for plaintiff.

Samuel O. Clark, Jr., Asst. Atty. Gen., Andrew D. Sharpe, and Edward First, Sp. Assts. to Atty. Gen., and Bernard J. Flynn, U. S. Atty., and G. Randolph Aiken, Asst. U. S. Atty., both of Baltimore, Md., for defendant.

COLEMAN, District Judge.

This is a suit to recover additional income taxes assessed for the year 1935 against the plaintiff, as a personal holding company, in the amount of $6,906.47, under Section 351(b) 1, of the Revenue Act of 1934, 26 U.S.C.A. § 331(b) (1), and paid by the plaintiff under protest. This Section of the Act reads as follows: "(1) The term `personal holding company' means any corporation (other than a corporation exempt from taxation under section...

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