ATLANTIC MONTHLY COMPANY v. COMMISSIONER

Docket Nos. 3505, 3506.

5 T.C. 1025 (1945)

THE ATLANTIC MONTHLY COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. THE ATLANTIC MONTHLY COMPANY, TRANSFEREE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated November 1, 1945.


Attorney(s) appearing for the Case

Claude R. Branch, Esq., and John Dane, Jr., Esq., for the petitioner.

James T. Haslam, Esq., for the respondent.


The proceeding in Docket No. 3505 involves the determination by the respondent of a deficiency of $2,712.68 in the consolidated excess profits tax of petitioner and its wholly owned subsidiary, Atlantic Monthly Press, Inc. (hereinafter sometimes called "Press"), for the fiscal year ended April 30, 1941. The proceeding in Docket No. 3506 involves the liability of petitioner, as transferee, for deficiencies in income and declared value...

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