UNITED STATES SUPREME COURT DECISIONS ON-LINE

LIBSON SHOPS, INC. V. KOEHLER, 353 U. S. 382 (1957)

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U.S. Supreme Court

Libson Shops, Inc. v. Koehler, 353 U.S. 382 (1957)

Libson Shops, Inc. v. Koehler

No. 64

Argued January 15, 1957

Decided May 27, 1957

353 U.S. 382

Syllabus

Under §§ 23(s) and 122 of the Internal Revenue Code of 1939, as amended, a corporation resulting from a merger of 17 separately incorporated businesses which had filed separate income tax returns may not carry over and deduct the pre-merger net operating losses of three of its constituent corporations from the post-merger income attributable to the other businesses. Pp. 353 U. S. 382-390.

229 F.2d 220 affirmed.


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