American Bronze Corp. v. Commissioner
United States Tax Court
Petitioner Goldstein owned all of the stock of American Bronze and substantially all of the stock of Cleveland Brass Manufacturing Co. at the time Cleveland Brass sold its assets to Webster Valve Co., Inc., in October 1968. American Bronze was engaged in the "jobbing" business of making bronze castings; Cleveland Brass was engaged in the same "jobbing" business but also manufactured and sold its own "product line" of valves.
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Petitioner Goldstein owned all of the stock of American Bronze and substantially all of the stock of Cleveland Brass Manufacturing Co. at the time Cleveland Brass sold its assets to Webster Valve Co., Inc., in October 1968. American Bronze was engaged in the "jobbing" business of making bronze castings; Cleveland Brass was engaged in the same "jobbing" business but also manufactured and sold its own "product line" of valves. Webster Valve did not conduct a "jobbing" business after the sale and Cleveland Brass retained some of its jobbing business equipment and continued its jobbing business…
1Opinion of the Court
American Bronze Corporation, Petitioner v. Commissioner of Internal Revenue, Respondent; Saul S. Goldstein and Dorothy Goldstein, Petitioners v. Commissioner of Internal Revenue, Respondent
American Bronze Corp. v. Commissioner
Docket Nos. 9068-73, 9069-73
United States Tax Court
64 T.C. 1111; 1975 U.S. Tax Ct. LEXIS 61;
September 30, 1975. Filed September 30, 1975, Filed
Decisions will be entered under Rule 155.
Petitioner Goldstein owned all of the stock of American Bronze and substantially all of the stock of Cleveland Brass Manufacturing Co. at the time Cleveland Brass sold its assets to Webster…
2Cases cited16 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Libson Shops, Inc., v. Koehler, District Director of Internal RevenueSupreme Court of the United States · 1957
- Lewis v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1949
- Survaunt v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1947
- H. F. Ramsey Co. v. CommissionerUnited States Tax Court · 1965
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