General Plastics, Inc. v. Commissioner

145 F.2d 731, 33 A.F.T.R. (P-H) 117, 1944 U.S. App. LEXIS 2637, 33 A.F.T.R. (RIA) 117

Opinion

FRANK, Circuit Judge.

We think the Tax Court was right. In Phillips v. Commissioner, 3 Cir., 134 F.2d 73, the taxpayer lost, although the identity of the creditor was changed and here it was not, so that the taxpayer’s case here is weaker. We approved the ruling of the Phillips case in Commissioner v. Grant Trading Co., 2 Cir., 135 F.2d 358.

Affirmed.