1. Home
  2. Browse Decisions
  3. T.C.
  4. 67 T.C.
  5. 67 T.C. 372 (1976)
 

VIRGINIA MATERIALS CORP. v. COMMISSIONER

Docket No. 7295-74.

67 T.C. 372 (1976)

VIRGINIA MATERIALS CORPORATION, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed December 2, 1976.

Attorney(s) appearing for the Case

Peter W. Martone and Leroy T. Canoles, Jr., for the petitioner.

J. Doyle Tumbleson and George H. Jelly, for the respondent.

OPINION

BRUCE, Judge:

Respondent determined a deficiency of $83,209.70 in petitioner's Federal income tax for its taxable year ended September 30, 1970. The issues presented for our decision are (1) whether petitioner, Virginia Materials Corp., constructively received a taxable distribution when its wholly owned subsidiary, Tidewater Industrial Development Corp., purchased shares of petitioner's stock, and if the first question is answered affirmatively...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases