HOOVER MOTOR EXPRESS COMPANY, INC. v. COMMISSIONER

Docket No. 4299-63.

25 T.C.M. 1359 (1966)

T.C. Memo. 1966-267

Hoover Motor Express Company, Inc. (Successor by Merger to Indianapolis Forwarding Company) v. Commissioner.

United States Tax Court.

Filed December 13, 1966.


Attorney(s) appearing for the Case

Edward C. Rustigan and Neil G. Bluhm, for the petitioner. Helen A. Viney and Charles B. Wolfe, Jr., for the respondent.


Memorandum Findings of Fact and Opinion

PIERCE, Judge:

This proceeding involves a deficiency in petitioner's income tax for 1958 in the amount of $177,185.22. Some of the issues raised in the pleadings have been settled by agreement of the parties and some of the facts have been stipulated. The sole remaining question in issue is whether petitioner or Indianapolis Forwarding Co., (IFC) whose stock petitioner acquired in 1958, is entitled to a net operating...

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