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ANDERSON BROTHERS CORPORATION v. C. I. R.

No. 18711.

296 F.2d 627 (1961)

ANDERSON BROTHERS CORPORATION, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fifth Circuit.

December 13, 1961.

Attorney(s) appearing for the Case

Clyde L. Wilson, Jr., Marvin K. Collie, Houston, Tex., Vinson, Elkins, Weems & Searls, Houston, Tex., of counsel, for petitioner.

Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, Harry Marselli, Attys., Dept. of Justice, Washington, D. C., Hart H. Spiegel, Chief Counsel, I. R. S., Claude R. Marshall, Sp. Atty., I. R. S., Washington, D. C., Benjamin M. Parker, Atty., Dept. of Justice, Washington, D. C., for respondent.

Before TUTTLE, Chief Judge, and HUTCHESON and JONES, Circuit Judges.

TUTTLE, Chief Judge.

This case involves the application of the Korean War Excess Profits Tax to the appellants here, a "new corporation," whose "excess profits credit" requires a determination of its "total assets" on the critical date, June 30, 1950.

The facts are not in dispute. Appellant, a corporation organized under the laws of Texas on July 1, 1946, had its principal place of business during its fiscal years ended June 30, 1950, 1951 and 1952 in Houston...

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