Singer Manufacturing Co. v. United States

There are two issues in these suits. The first is whether The Singer Manufacturing Company, which sustained a loss in 1926 on the liquidation of its wholly owned subsidiary, Hamel Shoe Machinery Company, could deduct that loss from its 1926 income, in view of additional facts hereinafter recited. The second is whether credit on its American income tax liability may be taken by The Singer Manufacturing Company for payments made, it says on its behalf, to the Kingdom of Italy in each of the years from 1926 to 1933, except 1932. Many plaintiffs in addition to The Singer Manufacturing Company are…