Solitron Devices, Inc. v. Commissioner
United States Tax Court
Petitioner was engaged in the business of designing, manufacturing, and marketing electronic components. In 1968, it decided to enter the microwave industry. After several unsuccessful attempts to acquire large microwave manufacturing companies, petitioner began to acquire a number of smaller companies which collectively could offer the broad product mix of the larger competitors.
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Petitioner was engaged in the business of designing, manufacturing, and marketing electronic components. In 1968, it decided to enter the microwave industry. After several unsuccessful attempts to acquire large microwave manufacturing companies, petitioner began to acquire a number of smaller companies which collectively could offer the broad product mix of the larger competitors. Pursuant to this strategy, petitioner purchased GRFF, a manufacturer primarily engaged in the custom connector business. After abbreviated negotiations, petitioner purchased all of the stock of GRFF on Aug. 29,…
1Opinion of the Court
Solitron Devices, Inc., Petitioner v. Commissioner of Internal Revenue, Respondent
Solitron Devices, Inc. v. Commissioner
Docket No. 8313-78
United States Tax Court
80 T.C. 1; 1983 U.S. Tax Ct. LEXIS 129; 80 T.C. No. 1;
January 10, 1983, Filed
Decision will be entered for the respondent.
Petitioner was engaged in the business of designing, manufacturing, and marketing electronic components. In 1968, it decided to enter the microwave industry. After several unsuccessful attempts to acquire large microwave manufacturing companies, petitioner began to acquire a number of smaller companies which…
2Cases cited45 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Metropolitan Bank v. St. Louis Dispatch Co.Supreme Court of the United States · 1893
- Grace Bros. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1949
- Jack Daniel Distillery, Lem Motlow, Prop., Inc. v. The United StatesUnited States Court of Claims · 1967
- 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
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