Legal Opinion
Waltham Netoco Theatres, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the First Circuit
Decided October 9, 1968No. 7132PublishedCited by 39 opinions
1Opinion of the Court
McENTEE, Circuit Judge.
The question raised by this petition for review is whether the Tax Court erred in holding that the gain derived from a sale of all the stock in petitioner’s wholly owned subsidiary was taxable to petitioner. There is no dispute as to the relevant underlying facts. Only the Tax Court’s conclusions are questioned. 1
Petitioner was an affiliate of a corporate group whose principal business was the management and operation of motion picture theatres. A majority of its stock was owned by Pilgrim Theatres Corporation (Pilgrim) which in turn was a wholly owned subsidiary of…
2Cases cited5 opinions
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- United States v. Cumberland Public Service Co.Supreme Court of the United States · 1950
- Waltham Netoco Theatres, Inc. v. CommissionerUnited States Tax Court · 1968
- John E. Palmer v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1965
3Cited by39 opinions
- Wilber H. Friend, an Individual, and Friend Company, a Corporation v. H. A. Friend and Company, Inc.Court of Appeals for the Ninth Circuit · 1969
- Martin Ice Cream Co. v. Comm'rUnited States Tax Court · 1998
- Adams v. CommissionerUnited States Tax Court · 1978
- Hallowell v. CommissionerUnited States Tax Court · 1971
- Vest v. CommissionerUnited States Tax Court · 1971
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