Legal Opinion
Jerone E. Casey, Transferee of the Bankers Development Corporation v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided May 11, 1959No. 25355_1PublishedCited by 30 opinions
1Opinion of the Court
MADDEN, Judge.
The petitioner Casey in 1953 acquired all the assets of Bankers Development Corporation, and thereby became liable for Bankers’ unpaid taxes. The Tax Court held that Bankers had incurred corporate surtax liability for its taxable year ended April 30, 1950, under section 102 of the Internal Revenue Code of 1939 (26 U.S.C. 1952 Ed., § 102). Section 102(a) imposes a tax, in addition to the taxes normally imposed upon corporations, upon the income of a corporation if the corporation is “availed of” for the purpose of preventing the imposition of a surtax upon its shareholders. The…
2Cases cited14 opinions
- United States v. United States Gypsum Co.Supreme Court of the United States · 1948
- Helvering v. National Grocery Co.Supreme Court of the United States · 1938
- Orvis v. HigginsCourt of Appeals for the Second Circuit · 1950
- Helvering v. Chicago Stock Yards Co.Supreme Court of the United States · 1943
- Pelton Steel Casting Co. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1958
9 more not listed; retrieve them via the Exa API.
3Cited by30 opinions
- The Smoot Sand & Gravel Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1960
- Elliotts, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1983
- John P. Scripps Newspapers v. CommissionerUnited States Tax Court · 1965
- Bremerton Sun Publishing Co. v. CommissionerUnited States Tax Court · 1965
- I. A. Dress Co., Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1960
25 more not listed; retrieve them via the Exa API.