OVIATT'S v. COMMISSIONER OF INTERNAL REVENUE

No. 9997.

128 F.2d 352 (1942)

OVIATT'S v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Ninth Circuit.

Rehearing Denied July 2, 1942.


Attorney(s) appearing for the Case

Thomas R. Dempsey, Wellman P. Thayer, Dempsey & Thayer, William L. Kumler, and H. Benjamin Thompson, Jr., all of Los Angeles, Cal. (Arthur H. Deibert, of Los Angeles, Cal., of counsel), for petitioner.

Samuel O. Clark, Jr., Asst. Atty. Gen., and J. Louis Monarch, Hubert L. Will, and Frederick E. Youngman, Sp. Assts. to the Atty. Gen., for respondent.

Before MATHEWS, HANEY, and STEPHENS, Circuit Judges.


STEPHENS, Circuit Judge.

This appeal is from a decision of the Board of Tax Appeals disallowing a credit of $47,127.61 claimed by petitioner herein, a California corporation with its principal office in Los Angeles, California, against its net taxable income on which a deficiency surtax on undistributed profits for the fiscal year ending January 31, 1937, was assessed by the Commissioner in the amount of $5,802.22, under the provisions of Section 26(c) of the Revenue...

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