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CLEVELAND TRUST CO. v. COMMISSIONER OF INTERNAL REV.

No. 8331.

115 F.2d 481 (1940)

CLEVELAND TRUST CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Sixth Circuit.

November 13, 1940.

Attorney(s) appearing for the Case

David A. Gaskill, of Cleveland, Ohio (David A. Gaskill, Earl P. Schneider, and Thompson, Hine & Flory, all of Cleveland, Ohio, on the brief), for petitioner.

M. S. Zimmerman, Sp. Asst. to Atty. Gen. (Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key and Joseph M. Jones, Sp. Assts. to Atty. Gen., on the brief), for respondent.

Before HICKS, HAMILTON, and ARANT, Circuit Judges.

HAMILTON, Circuit Judge.

We have here for consideration the question of whether a land trust as a method of financing loans on real estate has the essential characteristics of an association engaged in carrying on a business for profit and falling within the applicable revenue statute in force providing for the taxation of corporations.

The applicable statute is the Revenue Act of 1934, ch. 277, 48 Stat. 680, Sec...

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