Commonwealth v. Atlantic & Gulf Stevedores, Inc.

Opinion by

President Judge Bowman,

This is an appeal from an order of the Board of Finance and Revenue (Board) refusing the petition for review of Atlantic & Gulf Stevedores, Inc. (appellant) with respect to the resettlement by the Department of Revenue (Department) of appellant’s 1964 Corporate Income Tax (CIT) return.1 The facts have been stipulated and are essentially as follows.

Appellant is a Pennsylvania corporation organized and chartered in 1933 for the purpose of conducting a general stevedoring business. Appellant owns no real property in Pennsylvania or elsewhere but leases two piers…