TENNESSEE GROWERS, INC. v. KING


682 S.W.2d 203 (1984)

TENNESSEE GROWERS, INC., Appellee, v. John K. KING, Commissioner of Revenue of the State of Tennessee, Appellant.

Supreme Court of Tennessee, at Jackson.

December 10, 1984.


Attorney(s) appearing for the Case

J. Robert Walker, Asst. Atty. Gen., W.J. Michael Cody, Atty. Gen. and Reporter, Nashville, for appellant.

Walker T. Tipton, Covington, for appellee.


OPINION

COOPER, Chief Justice.

This is an action by a taxpayer for refund of state excise taxes paid under protest. The chancellor entered judgment for the taxpayer, and the commissioner appealed.

Tennessee Growers, Inc. acquired all of the capital stock of Shelton Fertilizer Co., Inc. on January 1, 1979. On January 5, 1979, Tennessee Growers, Inc. liquidated Shelton, took over its assets, assumed its liabilities, and cancelled the stock of Shelton...

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