COMMONWEALTH v. EMHART CORP.


443 Pa. 397 (1971)

Commonwealth v. Emhart Corporation, Appellant.

Supreme Court of Pennsylvania.

June 28, 1971.


Attorney(s) appearing for the Case

Sheldon M. Bonovitz, with him Duane, Morris & Heckscher, for appellant.

Edward T. Baker, Deputy Attorney General, with him Fred Speaker, Attorney General, for Commonwealth, appellee.

Before JONES, COHEN, EAGEN, O'BRIEN, ROBERTS and POMEROY, JJ.


OPINION BY MR. JUSTICE ROBERTS, June 28, 1971:

Two issues are presented in this appeal: (1) whether appellant Emhart Corporation, in computing its Pennsylvania Corporate Net Income Tax for 1964, properly excluded its capital gain realized on the sale of Monsanto Chemical Company stock from income to be allocated to Pennsylvania on the ground that the capital gain was unrelated to appellant's Pennsylvania business and bore no relation to the exercise of the privilege...

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