COM. OF PA. v. PENN SQUARE MGT. CORP.

No. 1735 C.D. 1975.

39 Pa.Commw. 127 (1978)

Commonwealth of Pennsylvania v. Penn Square Management Corp., Appellant.

Commonwealth Court of Pennsylvania.

December 8, 1978.


Attorney(s) appearing for the Case

Alan I. Baskin, with him Baskin, Mendelsohn & Leisawitz, for appellant.

Robert P. Coyne, Deputy Attorney General, with him Eugene J. Anastasio, Deputy Attorney General, for appellee.

Argued September 12, 1978, before President Judge BOWMAN and Judges WILKINSON, JR., MENCER, ROGERS, BLATT, DISALLE and MacPHAIL. Judges CRUMLISH, JR. and CRAIG did not participate.


OPINION BY PRESIDENT JUDGE BOWMAN, December 8, 1978:

Penn Square Management Corp. (Penn Corp.) has appealed from an order of the Board of Finance and Revenue (Board) affirming the taxing authorities' settlement of Penn Corp.'s capital stock tax for the year ending December 31, 1973.

During the calendar year 1973 Penn Corp. was engaged in the business of investment adviser for the Penn Square Mutual Fund, an open-end investment trust.

Penn Corp. timely...

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