Arcadia Savings And Loan Association v. Commissioner Of Internal Revenue

300 F.2d 247 62-1 USTC P 9338 ARCADIA SAVINGS AND LOAN ASSOCIATION (a dissolved California corporation, by and through its duly qualified officers and directors), Arthur F. Picco and Charles J. Picco, Trustees under the Will of Lena Picco, Deceased, Gould L. Eddy and Lucia P. Eddy, Husband and Wife, George E. Osborn, Harold G. Petz, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. No. 17347. United States Court of Appeals Ninth Circuit. March 13, 1962. Forster & Gemmill, Richard H. Forster, James H. Knecht, Jr., Los Angeles, Cal., for petitioner. Louis F. Oberdorfer, Asst. Atty., Gen., Lee A. Jackson, Harry Baum, Fred E. Youngman and Morton Rothschild, Attys., Dept. of Justice, Washington, D.C., for respondent. Before JERTBERG and DUNIWAY, Circuit Judges, and DAVIS, District judge. JERTBERG, Circuit Judge. 1 The Tax Court of the United States rendered its decision redetermining deficiencies in income tax against petitioner Arcadia Savings and Loan Association (hereinafter referred to as 'Arcadia') for the years 1954 and 1955 in the respective amounts of $8,385.57 and $111,327.62, and its decisions fixing the amounts of the liabilities of the remaining individual…