Legal Opinion
Commissioner of Internal Revenue v. Virginia Metal Products, Inc., Virginia Metal Products, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Third Circuit
Decided May 15, 1961No. 13392_1PublishedCited by 26 opinions
1Opinion of the Court
GOODRICH, Circuit Judge.
This case involves the application of the net loss carry-over provisions of Section 122(b) of the 1939 Internal Revenue Code, 26 U.S.C.A. 1 The real heart of the case involves the question whether, to get the benefit of these provisions, continuity of the corporate entity is enough.
A corporation named Winfield incurred losses in 1950 and 1951 when it was engaged in the business of making aluminum storm windows and doors and selling and servicing automatic furnace stokers. Its shares were acquired by a corporation which we shall call “Virginia.” 2 Virginia was a wholly…
2Cases cited7 opinions
- Libson Shops, Inc., v. Koehler, District Director of Internal RevenueSupreme Court of the United States · 1957
- Mill Ridge Coal Company v. George D. Patterson, District Director of Internal RevenueCourt of Appeals for the Fifth Circuit · 1959
- Newmarket Manufacturing Company v. United StatesCourt of Appeals for the First Circuit · 1956
- Patten Fine Papers, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1957
- Virginia Metal Products, Inc. v. CommissionerUnited States Tax Court · 1960
2 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- Ach v. CommissionerUnited States Tax Court · 1964
- J. G. Dudley Company, Incorporated (Formerly Headen Hosiery Mills, Incorporated) v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1962
- Norden-Ketay Corporation (Formerly Ketay Instrument Corporation) v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1963
- Huyler's (Corp.) v. CommissionerUnited States Tax Court · 1962
- Frederick Steel Co. v. CommissionerUnited States Tax Court · 1964
21 more not listed; retrieve them via the Exa API.