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TEXAS-EMPIRE PIPE LINE CO. v. COMMISSIONER OF INT. REV.

No. 2376.

127 F.2d 220 (1942)

TEXAS-EMPIRE PIPE LINE CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Tenth Circuit.

March 23, 1942.

Attorney(s) appearing for the Case

B. H. Bartholow, of New York City (Irving H. Bull, W. G. Dunnington, and Roswell Magill, all of New York City, on the brief), for petitioner.

Warren F. Wattles, Sp. Asst. to the Atty. Gen. (Samuel O. Clark, Jr., Asst. Atty. Gen., and J. Louis Monarch and Gerald L. Wallace, Sp. Assts, to the Atty Gen., on the brief), for respondent.

Before PHILLIPS, HUXMAN, and MURRAH, Circuit Judges.

PHILLIPS, Circuit Judge.

This is a petition to review an order of the Board of Tax Appeals.

Two questions are presented: (1) whether the Texas-Empire Pipe Line Company1 realized a taxable gain upon the liquidation of its wholly-owned subsidiary corporation, the Texas-Empire Pipe Line Company of Illinois,2 on December 1, 1932, and if so, the amount of that gain; (2) whether the dividend in the amount...

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