Legal Opinion
Novelart Manufacturing Company v. Commissioner of Internal Revenue
Court of Appeals for the Sixth Circuit
Decided November 27, 1970No. 20251_1PublishedCited by 12 opinions
1Opinion of the Court
PHILLIPS, Chief Judge.
The taxpayer appeals from the decision of the Tax Court finding deficiencies for the fiscal years ending June 30, 1961, 1962 and 1963, respectively, in accumulated earnings tax imposed by § 531, Internal Revenue Code of 1954, 26 U.S.C. § 531. 1
The Tax Court agreed with the Commissioner in holding that the taxpayer was availed of for the purpose of avoiding income taxes on Klein, the sole stockholder of taxpayer, by unreasonably accumulating earnings and profits. The ultimate finding of fact of the Tax Court was that during each of the taxable years in question the…
2Cases cited8 opinions
- Helvering v. Northwest Steel Rolling Mills, Inc.Supreme Court of the United States · 1940
- United States v. Donruss Co.Supreme Court of the United States · 1969
- Interstate Investors, Inc. v. United StatesSupreme Court of the United States · 1969
- Novelart Mfg. Co. v. CommissionerUnited States Tax Court · 1969
- The Shaw-Walker Company, a Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1968
3 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Ivan Allen Co. v. United StatesSupreme Court of the United States · 1975
- Atlantic Properties, Inc. v. CommissionerUnited States Tax Court · 1974
- Golconda Mining Corp. v. CommissionerUnited States Tax Court · 1972
- Alma Piston Co. v. CommissionerUnited States Tax Court · 1976
- W. L. Mead, Inc. v. CommissionerUnited States Tax Court · 1975
7 more not listed; retrieve them via the Exa API.