Michigan City News, Inc. v. Department of Treasury

Appellant brought this action against appellees for the recovery of gross income taxes allegedly improperly assessed and collected. The facts out of which the controversy arose are as follows:

For several years prior to June 1, 1938 appellant, a corporation, printed and published a newspaper in Michigan City known as the Michigan City News. The capital stock of appellant was owned by three or four stockholders. On June 1, 1938 appellant entered into a contract with the Dispatch Publishing Company, Inc. (which Company will be hereinafter designated as the “Purchaser”) for the sale of most of…