AMERICAN FOUNDRY v. C. I. R.

No. 74-1245.

536 F.2d 289 (1976)

AMERICAN FOUNDRY, a corporation, et al., Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Appellee.

United States Court of Appeals, Ninth Circuit.

April 23, 1976.


Attorney(s) appearing for the Case

Robert H. Wyshak (argued), of Wyshak & Wyshak, Los Angeles, Cal., for appellants.

Robert G. Burt (argued), of Dept. of Justice, Washington, D. C., for appellee.

Before CHAMBERS, GOODWIN and WALLACE, Circuit Judges.


ALFRED T. GOODWIN, Circuit Judge:

Corporate and individual taxpayers appeal three Tax Court judgments which sustained deficiency determinations of the Commissioner. The Tax Court decisions are reported at 59 T.C. 231 (1972). We affirm in part and reverse in part.

Taxpayers are American Foundry, a close corporation; Dominic Meaglia, the corporation's founder, a majority stockholder, and ex-president; and Katie Meaglia, Dominic...

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