N.C. State Bar v. Coleman

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that “the principal purpose of a transaction does not become tax avoidance merely because the parties were cognizant of and considered the tax consequences”
• noting that section 269 was passed to prevent “the recently developed practice of corporations with large excess profits ... acquiring corporations with current past, or prospective losses or deductions, ... for the purpose of reducing [the acquiror’s] income and excess profits taxes.”

Source: CourtListener parenthetical corpus (CC0).