Helvering v. Chicago Stock Yards Co.

The Board of Tax Appeals sustained the petitioner’s determination of deficiencies in the respondent’s income tax for 1930, 1932, and 1933. The Circuit Court of Appeals reversed the Board’s decision. We granted certio rari because of the importance of the questions involved.

The challenged assessment was of the fifty per cent additional tax imposed by § 104 of the Revenue Acts of 1928 and 1932. The section, which is substantially the same in both statutes, provides, in subsection (a), that if any corporation is formed or availed of for the purpose of preventing the imposition of surtax upon its…