JOHN WANAMAKER PHILADELPHIA v. COM'R OF INT. REVENUE

No. 8439.

139 F.2d 644 (1943)

JOHN WANAMAKER PHILADELPHIA v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Third Circuit.

Decided December 30, 1943.


Attorney(s) appearing for the Case

Joseph A. Lamorelle, Philadelphia, Pa. (Maurice Bower Saul, and Saul, Ewing, Remick & Harrison, all of Philadelphia, Pa., on the brief), for petitioner.

Bernard Chertcoff, of Washington, D. C. (Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key and J. Louis Monarch, Sp. Assts. to Atty. Gen., on the brief), for respondent.

Before BIGGS, MARIS, and JONES, Circuit Judges.


MARIS, Circuit Judge.

This is a petition to review a decision of the Tax Court. The facts were stipulated and the stipulated facts were adopted by the Tax Court as its findings of fact. 1943, 1 T.C. 937.

John Wanamaker Philadelphia, the taxpayer, is a Pennsylvania corporation which owns and operates a department store in Philadelphia. Prior to December 14, 1920, its outstanding capital stock consisted of 75,000 shares of common...

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