Difco Laboratories, Inc. v. Commissioner
United States Tax Court
1. The Commissioner determined a deficiency in excess profits tax and an overassessment in income tax in a deficiency notice covering 1942. Held, the Tax Court has no jurisdiction to redetermine the income tax liability. 2. Held, on the facts, that expenditures made for certain alterations and changes in a building were not for repairs, but for replacements, and were capital expenditures. 3. Petitioner exchanged certain of its stock for notes.
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1. The Commissioner determined a deficiency in excess profits tax and an overassessment in income tax in a deficiency notice covering 1942. Held, the Tax Court has no jurisdiction to redetermine the income tax liability. 2. Held, on the facts, that expenditures made for certain alterations and changes in a building were not for repairs, but for replacements, and were capital expenditures. 3. Petitioner exchanged certain of its stock for notes. Held, the petitioner is entitled to a net capital addition under section 713 (a), I. R. C., in the computation of its excess profits credit, to the…
1Opinion of the Court
OPINION.
Disney, Judge:
We shall first dispose of the respondent’s motion to dismiss the proceeding, in so far as it relates to income tax for 1942, for want of jurisdiction. The respondent determined an overassessment of $1,873.07 in income tax and a deficiency of $12,829.19 in excess profits tax for that year. The petition contains allegation of error as to both the overassessment of income tax and the deficiency of excess profits tax. Section 272 of the Internal Revenue Code gives taxpayers the right to petition the Tax Court for a redetermination of deficiencies determined by the…
2Cases cited4 opinions
- Union Pacific Railroad v. United StatesSupreme Court of the United States · 1879
- Pioneer Parachute Co. v. CommissionerUnited States Tax Court · 1944
- Liberty Mirror Works v. CommissionerUnited States Tax Court · 1944
- Palomar Laundry v. CommissionerUnited States Tax Court · 1946
3Cited by34 opinions
- Mutual Lumber Co. v. CommissionerUnited States Tax Court · 1951
- Coors Porcelain Co. v. CommissionerUnited States Tax Court · 1969
- Hotel Sulgrave, Inc. v. CommissionerUnited States Tax Court · 1954
- Wellpoint, Inc. v. CommissionerCourt of Appeals for the Seventh Circuit · 2010
- Babcock & Wilcox Co. v. Pedrick. Babcock & Wilcox Tube Co. v. PedrickCourt of Appeals for the Second Circuit · 1954
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