Peyton Du-Pont Securities Co. v. Commissioner of Int. Rev.

CHASE, Circuit Judge.

In 1923, the petitioner and three other corporations, Southern Menhaden Corpora tion, Melntosh-Morello Orchards Company, Inc., and Charles J. Maxwell & Co., which will hereafter be referred to as Menhaden, Orchards, and Maxwell, occupied the same offices, had interlocking directorates, were operated together by the same persons, and were financed by the petitioner.

Separate returns were filed for 1922 by the petitioner, by Menhaden, and by Maxwell. The commissioner did not thereafter grant permission to filo a consolidated return. Petitioner was organized in May, 1922, and…