DEBS MEMORIAL RADIO FUND v. COMMISSIONER OF INT. REV.

No. 246.

148 F.2d 948 (1945)

DEBS MEMORIAL RADIO FUND, Inc., v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

April 12, 1945.


Attorney(s) appearing for the Case

Hugh Satterlee and I. Herman Sher, both of Washington, D. C., for petitioner.

Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key and Carlton Fox, Sp. Assts. to the Atty. Gen., for respondent.

Before SWAN, CHASE, and FRANK, Circuit Judges.


SWAN, Circuit Judge.

Section 727 of the Internal Revenue Code, 26 U.S.C.A.Int.Rev. § 727, exempts from the excess profits tax corporations exempt under section 101 from the income tax imposed by chapter 1. Debs Memorial Radio Fund, Inc., is a corporation organized in 1928 under the Stock Corporation Law of the state of New York, Consol.Laws N.Y. c. 59, "to engage in the business of broadcasting"; it operates radio station WEVD. It succeeded an unincorporated...

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