Legal Opinion
District of Columbia v. Acf Industries, Incorporated
Court of Appeals for the D.C. Circuit
Decided August 12, 1965No. 18898_1PublishedCited by 7 opinions
1Opinion of the Court
WRIGHT, Circuit Judge.
In 1959, respondent ACF Industries sold an unincorporated division of its operations, referred to as Nuclear Reactor Engineering Organization, to Allis-Chalmers Manufacturing Company. The agreed purchase price was the book value of the assets held by the Organization plus $300,000. In computing its District of Columbia Franchise Tax for the year of the sale, ACF treated the transaction as a sale of a capital asset giving rise to no tax liability by virtue of the District’s capital gains exclusion. 1 In 1963, the District of Columbia assessed petitioner an additional tax…
2Cases cited14 opinions
- Metropolitan Bank v. St. Louis Dispatch Co.Supreme Court of the United States · 1893
- Williams v. McGowanCourt of Appeals for the Second Circuit · 1945
- Commissioner of Internal Revenue v. Maurice L. KillianCourt of Appeals for the Fifth Circuit · 1963
- Brooks v. CommissionerUnited States Tax Court · 1961
- Nelson Weaver Realty Company, and Nelson Weaver Mortgage Company, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1962
9 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Commissioner of Internal Revenue v. Seaboard Finance Company, Seaboard Finance Company, Cross v. Commissioner of Internal Revenue, CrossCourt of Appeals for the Ninth Circuit · 1966
- Jeannette Lenkin v. District of Columbia, Morris Pollin v. District of ColumbiaCourt of Appeals for the D.C. Circuit · 1972
- Wolf v. District of ColumbiaDistrict of Columbia Court of Appeals · 1991
- District of Columbia v. National Bank of WashingtonDistrict of Columbia Court of Appeals · 1981
- Acf Industries, Incorporated v. District of ColumbiaCourt of Appeals for the D.C. Circuit · 1967
2 more not listed; retrieve them via the Exa API.