Burnet v. Wilshire Oil Co.

KERRIGAN, District Judge.

The sole question at issue in this ease is whether the Wilshire Oil Company, Inc., and the Bandini Petroleum Company were affiliated during tho year 1920 within the moaning of section 240 of the Revenue Act of 1918, and therefore entitled to file a consolidated income and excess profits tax • return. The Board of Tax Appeals found that the companies were affiliated, and the Commissioner appeals.

Section 240(b) of the Revenue Act of 1918 (40 Stat. 1057,1082) provided that two or more corporations shall be deemed to be affiliated, if substantially all the stock of two or…