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LUFKIN FOUNDRY AND MACHINE COMPANY v. C.I.R.

No. 72-1084.

468 F.2d 805 (1972)

LUFKIN FOUNDRY AND MACHINE COMPANY, Petitioner-Appellee, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellant. LUFKIN FOUNDRY AND MACHINE COMPANY INTERNATIONAL, Petitioner-Appellee, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellant.

United States Court of Appeals, Fifth Circuit.

Rehearing and Rehearing Denied November 3, 1972.

Attorney(s) appearing for the Case

Scott P. Crampton, Asst. Atty. Gen., Meyer Rothwacks, Atty., Tax Division, Dept. of Justice, Washington, D. C., K. Martin Worthy, Chief Counsel, Lee H. Henkel, Jr., Chris J. Ray, Internal Revenue Service, Washington, D. C., Thomas L. Stapleton, David English Carmack, Attys., Dept. of Justice, Washington, D. C., for respondent-appellant.

Marcellus R. Meek, Thomas M. Haderlein, John C. Klotsche, Chicago, Ill., for petitioners-appellees; Baker & McKenzie, Chicago, Ill., of counsel.

Before TUTTLE, COLEMAN and CLARK, Circuit Judges.

Rehearing and Rehearing En Banc Denied November 3, 1972.

CLARK, Circuit Judge:

The issue on this appeal concerns the kind of evidence a taxpayer must submit to overcome the Commissioner's presumption of correctness in a Section 482 allocation suit. 26 U.S.C.A. § 482 (1967).1 Specifically, the question is, can any quantum of evidence as to a taxpayer's internal transactions with its own subsidiaries, standing alone, be sufficient...

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