Cereal Products Refining Corp. v. Commissioner
United States Board of Tax Appeals
Petitioner and its subsidiary corporation made consolidated income tax return for the year 1932 upon exercise of an election under section 141(a) of Revenue Act of 1932 and consented to Regulations 78 prescribed by Commissioner under section 141(b) on May 15, 1933. On June 16, 1933, new revenue provisions were enacted in the National Industrial Recovery Act, which amended provisions of the 1932 Act relating to taxation of corporation income.
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Petitioner and its subsidiary corporation made consolidated income tax return for the year 1932 upon exercise of an election under section 141(a) of Revenue Act of 1932 and consented to Regulations 78 prescribed by Commissioner under section 141(b) on May 15, 1933. On June 16, 1933, new revenue provisions were enacted in the National Industrial Recovery Act, which amended provisions of the 1932 Act relating to taxation of corporation income. Petitioner made a separate income tax return for the year 1933, claiming the right to a new election with respect to making a separate or consolidated…
1Opinion of the Court
CEREAL PRODUCTS REFINING CORPORATION (NOW KNOWN AS ACME BREWERIES), PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Cereal Products Refining Corp. v. Commissioner
Docket No. 86538.
United States Board of Tax Appeals
39 B.T.A. 92; 1939 BTA LEXIS 1068;
January 17, 1939, Promulgated
Petitioner and its subsidiary corporation made consolidated income tax return for the year 1932 upon exercise of an election under section 141(a) of Revenue Act of 1932 and consented to Regulations 78 prescribed by Commissioner under section 141(b) on May 15, 1933. On June 16, 1933, new revenue provisions were…
2Cases cited5 opinions
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- Miller v. United StatesSupreme Court of the United States · 1935
- International Railway Co. v. DavidsonSupreme Court of the United States · 1922
- Lynch v. Tilden Produce Co.Supreme Court of the United States · 1924
- Cereal Products Refining Corp. v. CommissionerUnited States Board of Tax Appeals · 1939