Scottish American Inv. Co. v. Commissioner
United States Tax Court
In 1942 and 1943 petitioners were foreign investment corporations with an office in the United States. All decisions as to purchase and sale of securities and investment policies were made by the home offices in Scotland. Transactions in securities were handled directly by the home offices through resident brokers.
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In 1942 and 1943 petitioners were foreign investment corporations with an office in the United States. All decisions as to purchase and sale of securities and investment policies were made by the home offices in Scotland. Transactions in securities were handled directly by the home offices through resident brokers. The United States office, under the supervision of "an assistant secretary," maintained records, collected dividends, sent certain reports to the home offices, in some instances voted proxies, and otherwise performed extensive clerical and routine services for petitioners. Held,…
1Opinion of the Court
OPINION.
Kern, Judge:
In the earlier proceedings to which we have heretofore referred, the question presented was “whether or not petitioners are resident foreign corporations engaged in trade or business in the United States or having an office or place of business in the United States.”2 Those cases arose under section 231 (b) of the Revenue Acts of 19363 and 1938.4 We there held, the Fourth Circuit5 and the Supreme Court6 agreeing, “that during the taxable years [petitioners] had within the United States an office or place of business within the meaning of section 231 (b) * * 7 We did not…
2Cases cited6 opinions
- Commissioner v. Scottish American Investment Co.Supreme Court of the United States · 1945
- McCoach v. Minehill & Schuylkill Haven RailroadSupreme Court of the United States · 1913
- Edwards v. Chile Copper Co.Supreme Court of the United States · 1926
- Adda v. CommissionerUnited States Tax Court · 1948
- BW Jones Trust v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1943
1 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Linen Thread Co. v. CommissionerUnited States Tax Court · 1950
- Commissioner of Internal Revenue v. Spermacet Whaling & Shipping Co., S/ACourt of Appeals for the Sixth Circuit · 1960
- Nubar v. CommissionerUnited States Tax Court · 1949
- Topps of Canada, Ltd. v. CommissionerUnited States Tax Court · 1961
- Spermacet Whaling & Shipping Co. v. CommissionerUnited States Tax Court · 1958
6 more not listed; retrieve them via the Exa API.