C. Blake McDowell Inc. v. Commissioner of Internal Revenue

ORDER

The issue in this tax case is whether a Supreme Court decision that effectively overruled a Sixth Circuit decision upon which petitioner C. Blake McDowell, Inc. relied should be given retroactive effect. Judge Tannenwald of the Tax Court held that it should, thus subjecting petitioner, a personal holding company, to a tax on undistributed income it would have avoided had the Sixth Circuit decision been held to govern the issue. We affirm the judgment of the Tax Court, 71 T.C. 71.

There are no facts in dispute. In H. Wetter Manufacturing Co. v. United States, 458 F.2d 1033 (6th Cir. 1972),…