GLOVER PACKING COMPANY OF TEXAS v. UNITED STATES

No. 187-61.

328 F.2d 342 (1964)

GLOVER PACKING COMPANY OF TEXAS v. The UNITED STATES.

United States Court of Claims.

February 14, 1964.


Attorney(s) appearing for the Case

Arthur Glover, Amarillo, Tex., for plaintiff.

Thomas A. Troyer, Denver, Colo., with whom was Asst. Atty. Gen., Louis F. Oberdorfer, for defendant. Edward S. Smith, Lyle M. Turner, and Philip R. Miller, Washington, D. C., were on the brief.

Before JONES, Chief Judge, and WHITAKER, LARAMORE, DURFEE and DAVIS, Judges.


WHITAKER, Judge.

This is a suit for the refund of income taxes based on plaintiff's claim that it is entitled to deduct from its 1957 income losses sustained in prior years. It is entitled to do so unless section 382(a) of the Internal Revenue Code of 19541 prohibits it. So far as this case is concerned that section provides that if the person who owned the greatest percentage of the market value...

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