KING v. C. I. R.

No. 71-1418.

458 F.2d 245 (1972)

E. Ward KING and Myrtle C. King et al., Petitioner-Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Sixth Circuit.

April 7, 1972.


Attorney(s) appearing for the Case

John Y. Merrell, Annandale, Va., for appellants; Edwin O. Norris, Hunter, Smith, Davis, Norris, Waddey & Treadway, Kingsport, Tenn., on brief.

Richard Farber, Tax Div., Dept. of Justice, Washington, D. C., for appellee; Fred B. Ugast, Acting Asst. Atty. Gen., Meyer Rothwacks, Harry Baum, Attys., Tax Div., Dept. of Justice, Washington, D. C., on brief.

Before PHILLIPS, Chief Judge, and PECK and McCREE, Circuit Judges.


PECK, Circuit Judge.

This case involves the income tax liability for the year 1963 of the stockholders of the Mason & Dixon Lines, Inc., a motor common carrier of freight in interstate commerce. The facts of the case are fully set forth in the reported decision of the Tax Court, 55 T.C. 677, and disclose that Mason & Dixon, a Tennessee corporation formed in 1934, had been expanding rapidly since 1945 and by 1950 had outgrown...

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