WAYNE PUMP CO. v. GROSS INCOME TAX DIV.

No. 28,861.

232 Ind. 147 (1953)

110 N.E.2d 284

THE WAYNE PUMP CO. v. DEPT. OF TREASURY, STATE OF INDIANA, GROSS INCOME TAX DIVISION.

Supreme Court of Indiana.

Rehearing denied April 21, 1953.


Attorney(s) appearing for the Case

James P. Murphy, Kennerk & Dumas, and Jack W. Kenny, all of Fort Wayne, and Willard Shambaugh, (of counsel) of Fort Wayne, for appellant.

Edwin K. Steers, Jr., Attorney General, J. Emmett McManamon, former Attorney General, John J. McShane, Lloyd C. Hutchinson, Joseph E. Nowak, Robert F. Wallace, Earl E. Schmadel, William S. McMaster and George B. Hall, Deputy Attorneys General, for appellee.


GILKISON, J.

During the years 1938, 1939 and 1940, appellant was engaged in Indiana in the business of manufacturing and selling certain pumps, equipment and machinery to the gasoline and oil trade, on conditional sales or installment contracts. On June 25, 1938 appellant entered into a contract with First Bancredit Corporation of Minneapolis, Minnesota, hereinafter called "Bancredit", and with The Texas Company, hereinafter called "Texaco", relative to the financing...

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