Silver Brand Clothes, Inc. v. Commissioner
United States Tax Court
Petitioner and three related corporations engaged in similar businesses were owned by the same stockholders. Petitioner had for many years been a volume purchaser of merchandise entitling it to certain discounts.
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Petitioner and three related corporations engaged in similar businesses were owned by the same stockholders. Petitioner had for many years been a volume purchaser of merchandise entitling it to certain discounts. For many years prior to July 31, 1964, when the related corporations ceased doing business, petitioner made volume purchases of merchandise, including therein merchandise required by the related corporations, which it transferred to them at its cost, without addition for administration or handling expenses. This practice enabled the related corporations to obtain merchandise at lower…
1Opinion of the Court
Silver Brand Clothes, Inc. v. Commissioner.
Silver Brand Clothes, Inc. v. Commissioner
Docket No. 556-69.
United States Tax Court
T.C. Memo 1972-60; 1972 Tax Ct. Memo LEXIS 193; 31 T.C.M. (CCH) 250; T.C.M. (RIA) 72060;
March 6, 1972, Filed.
Petitioner and three related corporations engaged in similar businesses were owned by the same stockholders. Petitioner had for many years been a volume purchaser of merchandise entitling it to certain discounts. For many years prior to July 31, 1964, when the related corporations ceased doing business, petitioner made volume purchases of merchandise, including…
2Cases cited15 opinions
- Benjamin D. And Madeline Prentice Gilbert v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- Gooding Amusement Co. v. CommissionerUnited States Tax Court · 1954
- Kraft Foods Company v. Commissioner of Internal Revenue, (Two Cases)Court of Appeals for the Second Circuit · 1956
- C. M. Gooch Lumber Sales Co. v. CommissionerUnited States Tax Court · 1968
- Road Materials, Inc. v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Road Materials, Inc.Court of Appeals for the Fourth Circuit · 1969
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3Cited by1 opinion
- Silver Brand Clothes, Inc. v. United StatesCourt of Appeals for the Fourth Circuit · 1976