Barth Smelting Corp. v. Commissioner
United States Tax Court
Held, the petitioner is not entitled to section 722 (b) (4), I. R. C. 1939, relief. The petitioner has not shown that its average base period net income was inadequate as a result of its commencing business during the base period.
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Held, the petitioner is not entitled to section 722 (b) (4), I. R. C. 1939, relief. The petitioner has not shown that its average base period net income was inadequate as a result of its commencing business during the base period. Furthermore, the purchase of a new plant in 1941 by a corporation newly incorporated in 1941, with the same stockholders as petitioner, is not, within the meaning of section 722 (b) (4), the consummation of a plan by the petitioner to which said petitioner had been committed prior to January 1, 1940.
1Opinion of the Court
Barth Smelting Corporation, Petitioner, v. Commissioner of Internal Revenue, Respondent
Barth Smelting Corp. v. Commissioner
Docket No. 35819
United States Tax Court
30 T.C. 1073; 1958 U.S. Tax Ct. LEXIS 102;
August 18, 1958, Filed
Decision will be entered under Rule 50.
Held, the petitioner is not entitled to section 722 (b) (4), I. R. C. 1939, relief. The petitioner has not shown that its average base period net income was inadequate as a result of its commencing business during the base period. Furthermore, the purchase of a new plant in 1941 by a corporation newly incorporated in 1941, with the…
2Cases cited7 opinions
- Blum Folding Paper Box Co. v. CommissionerUnited States Tax Court · 1945
- Irwin B. Schwabe Co. v. CommissionerUnited States Tax Court · 1949
- Stonhard Co. v. CommissionerUnited States Tax Court · 1949
- Pabst Air Conditioning Corp. v. CommissionerUnited States Tax Court · 1950
- Robinson Terminal Warehouse Corp. v. CommissionerUnited States Tax Court · 1953
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