District Court, D. Massachusetts January 14, 1958, Civ. A. No. 54-289 (F. C. Donovan, Inc. v. United States)

ALDRICH, District Judge.

This is an action to recover income taxes allegedly illegally assessed. The facts were stipulated. The plaintiff F. C. Donovan, Inc., hereafter called Donovan, was incorporated in Massachusetts prior to 1940 for the purpose of “buying, selling, manufacturing, and otherwise dealing in hides, skins, and leather and similar materials * * All of its stock was owned by one A.