Zellerbach Paper Co. v. Helvering

WILBUR, Circuit Judge.

Petitioners seek a review of the decision of the Board of Tax Appeals sustaining deficiency tax assessed upon the incomes of the petitioners for their taxable year ending April 30, 1921. A consolidated return was filed by the Zellerbach Paper Company and its affiliated corporations, the National Paper Company, and the A. S. Hopkins Company, on July 16, 1921, while the Revenue Act of 1918 (40 Stat. 1057) was in force and before the enactment of the Revenue Act of 1921 (42 Stat. 227), which was made retroactively effective to January 1, 1921. Tax was fixed against each of…