Legal Opinion
Hart Metal Products Corporation v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided January 29, 1971No. 18172PublishedCited by 14 opinions
1Opinion of the Court
STEVENS, Circuit Judge.
Taxpayer operated a profitable metal stamping business in Elkhart, Indiana, from 1952 through 1957. When it discontinued operations in 1958, its sole shareholder also owned over 80 percent of the stock of Metal-Glass Company. In 1960 these Metal-Glass shares, together with all of taxpayer’s outstanding stock, were sold to taxpayer’s present owner. The principal issues presented for review arise out of transfers between taxpayer and Metal-Glass, the sale of shares of both corporations in 1960, and the fact that taxpayer qualifies as personal holding company as a result…
2Cases cited5 opinions
- Dixon v. United StatesSupreme Court of the United States · 1965
- Burnet v. HoustonSupreme Court of the United States · 1931
- Dixie Pine Products Co. v. CommissionerSupreme Court of the United States · 1944
- United States v. Consolidated Edison Co. of NYSupreme Court of the United States · 1961
- GUR Co. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1941
3Cited by14 opinions
- Broadwell Realty Corp. v. CobleSupreme Court of North Carolina · 1977
- J.H. Rutter Rex Mfg. Company, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1988
- Jupiter Corp. v. United StatesUnited States Court of Claims · 1983
- Ellis Corp. v. CommissionerUnited States Tax Court · 1972
- Kluger Associates, Inc. v. CommissionerCourt of Appeals for the Second Circuit · 1980
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