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TWIN CITY RAPID TRANSIT CO. (MINNESOTA) v. COMMISSIONER

Docket Nos. 109388, 109389.

3 T.C. 475 (1944)

TWIN CITY RAPID TRANSIT CO. (MINNESOTA), PARENT; AND MINNEAPOLIS STREET RAILWAY COMPANY, THE ST. PAUL CITY RAILWAY COMPANY, TWIN CITY MOTOR BUS COMPANY, AND THE MINNEAPOLIS AND ST. PAUL SUBURBAN RAILROAD COMPANY, SUBSIDIARIES, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. TWIN CITY RAPID TRANSIT COMPANY (NEW JERSEY), PARENT; AND MINNEAPOLIS STREET RAILWAY COMPANY, THE ST. PAUL CITY RAILWAY COMPANY, THE MINNEAPOLIS AND ST. PAUL SUBURBAN RAILROAD COMPANY, AND TWIN CITY MOTOR BUS COMPANY, SUBSIDIARIES, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated March 15, 1944.

Attorney(s) appearing for the Case

Leland W. Scott, Esq., for the petitioners.

Edward C. Adams, Esq., for the respondent.

The respondent determined deficiencies in income tax against Twin City Rapid Transit Co. (New Jersey) and its subsidiaries for the period January 1 to December 7, 1939, and against Twin City Rapid Transit Co. (Minnesota) and its subsidiaries for the period December 7 to December 31, 1939, in the respective amounts of $8,724.40 and $15,309.74. The sole issue is whether, under section 215 of the Revenue Act of 19391 (amending section 22 (b) of the...

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