Legal Opinion
Pelton Steel Casting Co. v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided January 7, 1958No. 12107PublishedCited by 75 opinions
1Opinion of the Court
FINNEGAN, Circuit Judge.
Section 102(a) of the Internal Revenue Code of 1939, as amended, 55 Stat. 687, 26 U.S.C. § 102 (1952 ed.) imposed a surtax on corporations improperly accumulating surplus. The respondent Commissioner decided that Pelton Steel Casting Co., petitioner, was availed of in 1946 for the purpose of preventing the imposition of such surtax upon its shareholders by accumulating the corporate earnings and profits instep of dividing or distributing them. That determination of the Commissioner covered fiscal years ending November 30, 1945 and November 30, 1946; penalty tax for…
2Cases cited6 opinions
- Helvering v. Chicago Stock Yards Co.Supreme Court of the United States · 1943
- Pelton Steel Casting Co. v. CommissionerUnited States Tax Court · 1957
- Latchis Theatres of Keene, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1954
- Gazette Pub. Co. v. SelfDistrict Court, E.D. Arkansas · 1952
- Trico Products Corporation v. McGowanCourt of Appeals for the Second Circuit · 1948
1 more not listed; retrieve them via the Exa API.
3Cited by75 opinions
- The Smoot Sand & Gravel Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1960
- Dixie, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1960
- Faber Cement Block Co. v. CommissionerUnited States Tax Court · 1968
- Barrow Manufacturing Company, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1961
- American Metal Products Corp. v. CommissionerUnited States Tax Court · 1960
70 more not listed; retrieve them via the Exa API.