Safety Electric Products Co. v. Helvering

GARRECHT, Circuit Judge.

The facts, stipulated to, were found by the board to be as follows:

"The petitioner [Safety Electric Products Company] is a California Corporation. The Woodill and Hulse Electric Company, Inc., and the Motor and Machinists Supply Company are also-corporations organized under the laws of California.

"From January 1, 1926 to October 1, 1926, the stock ownership of these three companies was such as to permit the filing of a consolidated return under Section 240 of the Revenue Act of 1926 (See sixty day letter attached to Petition). During this latter period 99.81 per cent…