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ASSOCIATED MACHINE v. COMMISSIONER

Docket No. 5177-65.

48 T.C. 318 (1967)

ASSOCIATED MACHINE (FORMERLY ASSOCIATED MACHINE SHOP), A CORPORATION, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed June 15, 1967.

Attorney(s) appearing for the Case

Jerry Kasner, for the petitioner.

Leo A. McLaughlin, for the respondent.

HARRON, Judge:

This case involves the 1959 income tax liability of a California corporation known as Associated Machine Shop. Its return for 1959 disclosed taxable income in the amount of $142,655.06. In 1960, Associated Machine Shop was merged into another California corporation, J & M Engineering, which simultaneously changed its name to Associated Machine, the petitioner here. In 1962, Associated Machine sustained a net operating loss. The respondent...

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