UNITED NAT. CORPORATION v. COMMISSIONER OF INT. REV.

No. 10556.

143 F.2d 580 (1944)

UNITED NAT. CORPORATION v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Ninth Circuit.

June 15, 1944.


Attorney(s) appearing for the Case

Roger L. Shidler and Harroun & Shidler, all of Seattle, Wash., for petitioner.

Samuel O. Clark, Jr., Asst. Atty. Gen., Sewall Key, Robert N. Anderson, I. Henry Kutz, and James P. Garland, Sp. Assts. to Atty. Gen., for respondent.

Sullivan & Cromwell, of New York City (Eustace Seligman and William F. Kennedy, both of New York City, of counsel), amicus curiæ.

Before DENMAN, STEPHENS, and HEALY, Circuit Judges.


DENMAN, Circuit Judge.

This is a review of an order of the Tax Court determining a deficiency in income taxes of the petitioner, hereinafter called the taxpayer, for its fiscal tax year ending June 30, 1939. The claimed deficiency arose from a failure to return as gross income $15,291.75, distributed to taxpayer in the tax year by Murphey, Favre & Co., a corporation, hereinafter called the Murphey Co., having only common shares outstanding, of which taxpayer held...

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