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SCROLL, INC. v. C. I. R.

No. 29207.

447 F.2d 612 (1971)

SCROLL, INC., a Florida Corporation, Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Fifth Circuit.

August 13, 1971.

Attorney(s) appearing for the Case

John L. Britton, Marc Lipsitz, Carmen A. Accordino, Feibelman, Friedman, Hyman & Britton, Miami, Fla., for petitioners-appellant.

K. Martin Worthy, Chief Counsel, Daniel J. Boyer, Atty., Internal Revenue Service, Johnnie M. Walters, Asst. Atty. Gen., Lee A. Jackson, Elmer J. Kelsey, Gordon S. Gilman, Meyer Rothwacks, Attys., Tax Division, U. S. Dept. of Justice, Washington, D. C., for respondent-appellee.

Before JOHN R. BROWN, Chief Judge, and WISDOM and MORGAN, Circuit Judges.

JOHN R. BROWN, Chief Judge:

Like so many of the contests between aggrieved taxpayers and the Internal Revenue Service, this one hinges upon the vagaries of motive and intention underlying an otherwise unexceptionable corporate transaction. Specifically, we must decide whether a desire to avoid payment of Federal income taxes was the principal purpose behind the acquisition of a loss corporation with a high net operating loss carryover and its subsequent merger with...

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