UNION CHEMICAL & MATERIALS CORP. v. UNITED STATES

No. 76-57.

296 F.2d 221 (1961)

UNION CHEMICAL & MATERIALS CORP. v. UNITED STATES.

United States Court of Claims.

November 1, 1961.


Attorney(s) appearing for the Case

Aaron Lewittes, New York City, for plaintiff. T. Roland Berner and Julian S. Bush, New York City, on the briefs.

Harold S. Larsen, Washington, D. C., with whom was Asst. Atty. Gen., Louis F. Oberdorfer, for defendant. Lyle M. Turner, Washington, D. C., on the brief.


LARAMORE, Judge.

This is an action for refund of Federal corporate income tax for the calendar year 1948. The taxpaper is the successor in interest to the rights and liabilities of Follansbee Steel Corporation by virtue of a merger with that company on December 23, 1954.

In the years immediately succeeding World War II, Follansbee experienced an expanded sales position which resulted in increased profits and a general improvement in the financial condition...

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