Writ of Certiorari Granted November 24, 1941. See ___ U.S. ___, 62 S.Ct. 301, 86 L.Ed. ___.
SOPER, Circuit Judge.
In the course of a complete liquidation in 1936, the Credit Alliance Corporation, the taxpayer, made a distribution to the Commercial Credit Company, its parent corporation, of earnings and profits accrued since February 28, 1913. No gain or loss resulted to the parent corporation from the distribution because of the provisions of Section 112(b...
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