Mallette Bros. Construction Co. v. United States

RANDALL, Circuit Judge:

These suits for tax refunds essentially involve the tax effect of funds and assets transferred among three related corporations having few financial records. Following an audit of those records that did exist, the Internal Revenue Service assessed deficiencies against each corporation for its fiscal years ended in 1972 and 1973. The corporations paid the assessments and sued for refunds. Following a trial, the jury rendered verdicts in favor of the corporations on all issues. The Government appeals, contending in the case of two of the corporations that there is no…