Six Seam Company, Inc., (73-2169), Plaintiff-Cross-Appellant (73-2170) v. United States of America, (73-2169), Defendant-Cross-Appellee (73-2170)

ENGEL, Circuit Judge.

This suit was commenced in the district court by Six Seam Co., for a refund of federal corporate income taxes for the years 1963, 1964 and 1965. Six Seam appeals from a district court grant of summary judgment in favor of the government denying it the right to deduct certain net operating losses incurred in the fiscal years 1960 and 1961, from its profits in 1963 and 1964. In its cross-appeal, the government challenges the district court’s holding that the sale of certain mining equipment from Coil-town Mining Company to taxpayer Six Seam was a bona fide sale and that,…