U.S. Court of Appeals for the Third Circuit, 1945

Crown Cork International Corporation v. COMMISSIONER OF INTERNAL REVENUE

U.S. Court of Appeals for the Third Circuit · Decided May 31, 1945 · Dobie, Goodrich, Mc-Laughlin

149 F.2d 968; 33 A.F.T.R. (P-H) 1480; 1945 U.S. App. LEXIS 4240 (Federal Reporter, Second Series)

Counsel

J. Marvin Haynes, of Washington, D. C. (James O. Wynn, W. C. Magathan and W. T. Sherwood, Jr., all of Washington, D. C., on the brief), for petitioner., Ernest R. Mortenson, of Washington, D. C, (Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key, Robert N. Anderson, and Harry Baum, Sp. Assts. to Atty. Gen., on the brief), for respondent.

Cases that cite this one

1 later published case cites this decision.

A. Arena & Co. v. United States (United States District Court for the Southern District of California 1952)

This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.

Opinion

PER CURIAM.

This is an appeal from a decision of the Tax Court of the United States, which disallowed a deduction claimed by the petitioner, Crown Cork International Corporation. Petitioner based its claim for a deduction on an alleged capital loss sustained in 1939, when petitioner sold 12,000 shares of the capital stock of Societe du Bouchon Couronne, S. A., to Foreign Manufacturers Finance Corporation, a subsidiary wholly owned by petitioner.

The Tax Court based its refusal to allow the claimed deduction upon the ground that, under all the circumstances here attendant, the alleged sale by the parent corporation to the subsidiary corporation lacked economic reality. We agree with the decision of the Tax Court and we deem it unnecessary to add to the opinion filed in that Court, 4 T.C. 19.

We accordingly affirmed the decision of the Tax Court of the United States.

Case-law data current through December 31, 2025. Source: CourtListener bulk data.