George La Monte & Son v. Commissioner of Internal Revenue

MANTON, Circuit Judge.

This petition seeks to review a determination of the Board of Tax Appeals, adjudging deficiencies of income and profit taxes for the years 1920, 1921, and 1922 on petitioner’s return for these years. On January 30, 1905, George La Monte & Son, a New York corporation, and the ELingsland Paper Mills, a New Jersey corporation, competitors in business, agreed to and did consolidate their business under the terms of an agreement whereby the Kingsland Paper Mills’ charter was amended, so as to change the name to George La Monte & Son, with an authorized capital of $342,800.…