Beacon Auto Radiator Repair Co. v. Commissioner
United States Tax Court
B corporation, engaged in both the manufacture and repair of automobile radiators, transferred its repair business to B', a corporation under common control having a similar name. Both businesses were thereafter operated in the same manner as they previously had been conducted, in the same building and under the same management; there was no serious attempt to impress customers with the separate corporate identities.
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B corporation, engaged in both the manufacture and repair of automobile radiators, transferred its repair business to B', a corporation under common control having a similar name. Both businesses were thereafter operated in the same manner as they previously had been conducted, in the same building and under the same management; there was no serious attempt to impress customers with the separate corporate identities. Held, B' has not shown by a "clear preponderance of the evidence" that the securing of an additional surtax exemption was not "a major purpose" of the transfer. Sec. 1551, I.R.C.…
1Opinion of the Court
opinion
Raum, Judge:
Although the Commissioner originally relied upon both sections 269 and 1551 of the 1954 Code to deny petitioner the surtax exemption for the years involved, he has limited his position on brief to section 1551 which is set forth in full in the margin below.1 That section, in substance, provides, in the case of a transfer of property by one corporation to another corporation (created to receive the property or formerly inactive) under common control (as defined) , that the surtax exemption may be disallowed unless the transferee establishes by a clear preponderance of the…
2Cases cited9 opinions
- Bush Hog Mfg. Co. v. CommissionerUnited States Tax Court · 1964
- Coastal Oil Storage Company, and v. Commissioner of Internal Revenue, AndCourt of Appeals for the Fourth Circuit · 1957
- Truck Terminals, Inc., on Review v. Commissioner of Internal Revenue, on ReviewCourt of Appeals for the Ninth Circuit · 1963
- Sno-Frost, Inc. v. CommissionerUnited States Tax Court · 1959
- Coastal Oil Storage Co. v. CommissionerUnited States Tax Court · 1956
4 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Beacon Auto Radiator Repair Co. v. CommissionerUnited States Tax Court · 1969
- G & J Inv. Corp. v. CommissionerUnited States Tax Court · 1973
- G & J Investment Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1974
- Harbour Properties, Inc. v. CommissionerUnited States Tax Court · 1973
- Massey's Auto Body Shop, Inc. v. CommissionerUnited States Tax Court · 1978