RHOMBAR CO. v. C.I.R.

No. 42, Docket 31254.

386 F.2d 510 (1967)

RHOMBAR CO., Inc., Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Second Circuit.

Decided November 16, 1967.


Attorney(s) appearing for the Case

Jay O. Kramer, New York City (Frederick Gelberg, Saul Duff Kronovet, Solomon L. Warhaftig, Kaye, Scholer, Fierman, Hays & Handler, New York City, of counsel), for petitioner.

Stephen H. Paley, Atty., Dept. of Justice (Mitchell Rogovin, Asst. Atty. Gen., Lee A. Jackson, Crombie J. D. Garrett, Attys., Dept. of Justice), for respondent.

Before FRIENDLY, KAUFMAN and ANDERSON, Circuit Judges.


IRVING R. KAUFMAN, Circuit Judge:

This petition to review a decision of the Tax Court, Atkins, J., reported at 47 T.C. 75 (1967), holding Rhombar Co., Inc. liable for the accumulated earnings tax imposed by Section 531 of the Internal Revenue Code of 1954 for the taxable years ending January 31, 1960, 1961, and 1962,1 presents what may be the first instance in which a taxpayer's counsel has had the "abnormally...

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