DE SOTO SECURITIES CO. v. COMMISSIONER OF INTERNAL REV.

No. 11687.

235 F.2d 409 (1956)

DE SOTO SECURITIES COMPANY, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Seventh Circuit.

August 9, 1956.


Attorney(s) appearing for the Case

William A. McSwain, Chicago, Ill., Percy B. Eckhart, James O. Silliman, Chicago, Ill., Eckhart, Klein, McSwain & Campbell, Chicago, Ill., of counsel, for petitioner.

Charles K. Rice, Asst. Atty. Gen., Davis W. Morton, Jr., Attorney, Tax Division, U. S. Dept. of Justice, Washington, D. C., Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson, Harry Baum, Attorneys, Department of Justice, Washington, D. C., for respondent.

Before FINNEGAN, LINDLEY and SCHNACKENBERG, Circuit Judges.


SCHNACKENBERG, Circuit Judge.

Petitioner asks us to reverse a decision of the Tax Court which sustained respondent's determination of a deficiency of $16,964.29 in the personal holding company surtax of petitioner for the fiscal year ending June 30, 1950. The Tax Court's opinion1 found all of the facts as the parties stipulated them.

During the fiscal year in question petitioner was a personal holding company. In addition to the...

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