1. Home
  2. Browse Decisions
  3. F.2d
  4. 350 F.2d
  5. 350 F.2d 795 (1965)
 

DISTRICT OF COLUMBIA v. ACF INDUSTRIES, INCORPORATED

No. 18898.

350 F.2d 795 (1965)

DISTRICT OF COLUMBIA, Petitioner, v. ACF INDUSTRIES, INCORPORATED, Respondent.

United States Court of Appeals District of Columbia Circuit.

Decided August 12, 1965.

Attorney(s) appearing for the Case

Mr. Peter H. Wolf, Asst. Corp. Counsel for the District of Columbia, with whom Messrs. Chester H. Gray, Corp. Counsel, Milton D. Korman, Principal Asst. Corp. Counsel, and Henry E. Wixon, Asst. Corp. Counsel, were on the brief, for petitioner.

Mr. Rourke J. Sheehan, Washington, D. C., for respondent.

Before WASHINGTON, Circuit Judge, BASTIAN, Senior Circuit Judge, and WRIGHT, Circuit Judge.

WRIGHT, Circuit Judge.

In 1959, respondent ACF Industries sold an unincorporated division of its operations, referred to as Nuclear Reactor Engineering Organization, to Allis-Chalmers Manufacturing Company. The agreed purchase price was the book value of the assets held by the Organization plus $300,000. In computing its District of Columbia Franchise Tax for the year of the sale, ACF treated the transaction as a sale of a capital asset giving rise to no tax liability...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases