DAYTON HYDRAULIC CO. v. UNITED STATES

No. 77-3062.

592 F.2d 937 (1979)

DAYTON HYDRAULIC CO., Plaintiff-Appellant, v. UNITED STATES of America, Defendant-Appellee.

United States Court of Appeals, Sixth Circuit.

Decided February 16, 1979.


Attorney(s) appearing for the Case

Roger J. Makley, Coolidge, Wall, Matusoff, Womsley & Lombard Co., L. P. A., Dayton, Ohio, for plaintiff-appellant.

James C. Cissell, U. S. Atty., Dayton, Ohio, Scott P. Crampton, Asst. Atty. Gen., Tax Div., U. S. Dept. of Justice, Myron C. Baum, Gilbert Andrews, Jr., Robert T. Duffy, Joseph L. Liegl, Leonard J. Henzke, Jr., Washington, D. C., for defendant-appellee.

Before LIVELY and KEITH, Circuit Judges, and LAWRENCE, Senior District Judge.


PER CURIAM.

The only issue raised in this appeal from a judgment in favor of the Government is whether a corporation may escape capital gains tax on the increased value of shares of another corporation which it holds as an investment and which it distributes to its shareholders after the company issuing the shares has adopted and begun proceeding with a plan of liquidation and dissolution.

Dayton Hydraulic Company (Dayton) appeals from an adverse decision...

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