Wolverine Petroleum Corp. v. Commissioner

WOODROUGH, Circuit Judge.

This is an appeal from a decision of the Board of Tax Appeals, (29 B. T. A. 1236) sustaining the assessment by the Commissioner of a deficiency of $32,258.86 in the petitioner’s income tax for the period September 1 to December 31, 1923. The facts as found by the Board of Tax Appeals are as follows:

The taxpayer, a Maine corporation, which, on August 27,1923, changed its name from the Central Petroleum Company, was the parent company of affiliated corporations consisting of the Wolverine Oil Company, Sagamore Oil & Gas Company, Wigwam Oil Company, Roth-Argue-Maire…