Hoosac Mills Corp. v. Commissioner

MORTON, Circuit Judge.

This is a petition to review a decision by the Board of Tax Appeals. It involves the liability of the petitioner, as transferee of property formerly owned by the Nemasket Mill, for deficiency income and profits taxes assessed against the former owner for the year 1919. The Nemasket Mill transferred its assets to the Butler Mill in 1923; and the Butler Mill, in 1931, transferred the property in question as part of its assets to the petitioner.

There is no controversy as to the amount of the tax, the only question being whether the assessment was outlawed. The re,turn was…