BAKER COMMODITIES, INC., a California Corporation, Appellant,
v.
COMMISSIONER OF INTERNAL REVENUE, Appellee.
United States Court of Appeals Ninth Circuit.https://leagle.com/images/logo.png
August 8, 1969.
Rehearing Denied October 7, 1969.
Attorney(s) appearing for the Case
Carl A. Stutsman, Jr. (argued), Hill, Farrer & Burrill, Gillin & Scott, Jack R. White, Glenn M. Alperstein, Los Angeles, Cal., for appellant.
Lester B. Snyder (argued), Johnnie M. Walter, Asst. Atty. Gen., Tax Div., Lee A. Jackson, Jonathan S. Cohen, Attys., Dept. of Justice, Lester R. Uretz, Chief Counsel, IRS, Washington, D. C., for appellee.
Before BARNES and CARTER, Circuit Judges, and BYRNE, District Judge.
United States Court of Appeals Ninth Circuit.
JAMES M. CARTER, Circuit Judge:
This is an appeal from a decision of the Tax Court, 48 T.C. 374 (1967), in which the appellant corporation was denied a stepped up basis for assets acquired from the liquidation of three subsidiary corporations, i.e. that appellant was not entitled to use as its basis for the assets received from the subsidiary corporations in liquidation, the same amount that was paid for the stock of these corporations...
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