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KEN-RAD TUBE & LAMP CORP. v. COMMISSIONER OF INT. REV.

Nos. 10,884, 10,885.

180 F.2d 940 (1950)

KEN-RAD TUBE & LAMP CORP. v. COMMISSIONER OF INTERNAL REVENUE. KEN-RAD TRANSMITTING TUBE CORP. v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals Sixth Circuit.

March 16, 1950.

Attorney(s) appearing for the Case

James E. Fahey, Louisville, Ky. (William A. MacKenzie, Jr., Louisville, Ky., on the brief, Skaggs, Hays & Fahey, Louisville, Ky., of counsel), for petitioner.

Fred E. Youngman, Washington, D. C. (Theron Lamar Caudle and Ellis N. Slack, Washington, D. C., on the brief), for respondent.

Before ALLEN, McALLISTER, and MILLER, Circuit Judges.

McALLISTER, Circuit Judge.

Ken-Rad Transmitting Tube Corporation, petitioner taxpayer herein, acquired or constructed certain emergency facilities in 1941, 1942, and 1943. The assets were later distributed to its parent corporation, Ken-Rad Tube and Lamp Corporation, in complete liquidation, as of June 30, 1943; and the parent corporation sold them at a profit on January 2, 1945. Petitioner taxpayer was entitled to amortize the "basis" of such emergency facilities...

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