Legal Opinion
Commissioner v. Hughes Tool Co.
Court of Appeals for the Fifth Circuit
Decided March 26, 1941No. 9562PublishedCited by 3 opinions
1Opinion of the Court
HOLMES, Circuit Judge.
As of December 13, 1929, the Hughes Tool Company, petitioner, acquired all the capital stock of the Caddo Company. The Caddo Company filed a separate return of income for the period from January 1, 1929, to December 12, 1929, during which period it had a statutory net loss of $728,-415.87. For the period from December 13, 1929, to December 31, 1929, petitioner and the Caddo Company filed a consolidated return which showed consolidated net income of $141,828.10; no effect was given to the said net loss. A consolidated return was also filed for 1930, and the $728,415.87…
2Cases cited5 opinions
- Helvering v. Morgan's, Inc.Supreme Court of the United States · 1934
- Commissioner of Internal Revenue v. General MacHinery Corp.Court of Appeals for the Sixth Circuit · 1938
- Palomas Land & Cattle Co. v. CommissionerCourt of Appeals for the Ninth Circuit · 1937
- Wishnick-Tumpeer, Inc. v. HelveringCourt of Appeals for the D.C. Circuit · 1934
- Hughes Tool Co. v. CommissionerCourt of Appeals for the Fifth Circuit · 1941
3Cited by3 opinions
- Wolter Construction Company, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1980
- Olivier Company v. PattersonDistrict Court, N.D. Alabama · 1957
- Valley Paperback Mfrs., Inc. v. CommissionerUnited States Tax Court · 1975