Delacroix Corp. v. Commissioner

Fifth Circuit

Delacroix Corp. v. Commissioner

84 F.2d 442, 17 A.F.T.R. (P-H) 1317, 1936 U.S. App. LEXIS 4499

CourtCourt of Appeals for the Fifth Circuit

DecidedJune 10, 1936

DocketNo. 8021

StatusPublished

This text of 84 F.2d 442 (Delacroix Corp. v. Commissioner) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Delacroix Corp. v. Commissioner, 84 F.2d 442, 17 A.F.T.R. (P-H) 1317, 1936 U.S. App. LEXIS 4499 (5th Cir. 1936).

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Opinion

PER CURIAM.

This is a transferee proceeding supplemental to that this day decided in Acme Land & Fur Co. v. Commissioner of Internal Revenue (C.C.A.) 84 F.(2d) 441. The parties have stipulated that if liable as transferee, Delacroix’s liability is that fixed as Acme’s deficiency in that proceeding.

Organized to take over Acme’s assets by the owners of the Acme shares, it is in substance and effect a continuation of Acme, with the same officers. Acme before the organization owned the property and now owns the shares in Delacroix. In such a situation it may not be doubted that Delacroix took Acme’s property subject to and charged with Acme’s liabilities, including those for taxes.

The order of the Board is affirmed.

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PER CURIAM.

This is a transferee proceeding supplemental to that this day decided in Acme Land & Fur Co. v. Commissioner of Internal Revenue (C.C.A.) 84 F.(2d) 441. The parties have stipulated that if liable as transferee, Delacroix’s liability is that fixed as Acme’s deficiency in that proceeding.

Organized to take over Acme’s assets by the owners of the Acme shares, it is in substance and effect a continuation of Acme, with the same officers. Acme before the organization owned the property and now owns the shares in Delacroix. In such a situation it may not be doubted that Delacroix took Acme’s property subject to and charged with Acme’s liabilities, including those for taxes.

The order of the Board is affirmed.

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Bluebook (online)

84 F.2d 442, 17 A.F.T.R. (P-H) 1317, 1936 U.S. App. LEXIS 4499, Counsel Stack Legal Research, https://law.counselstack.com/opinion/delacroix-corp-v-commissioner-ca5-1936.

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