Erving Paper Mills Corp. v. Commissioner
United States Tax Court
P commenced construction of a "paper processing machine" prior to Apr. 19, 1969. Such property generally qualified for the investment credit under sec. 46(c), I.R.C. 1954. Held, property, the construction of which commenced by the taxpayer prior to Apr. 19, 1969, is not subject to sec. 49(a), I.R.C. 1954, which "turned off" the investment credit for property constructed or acquired after such date, and such property is eligible for the credit without regard to sec. 49(b),…
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P commenced construction of a "paper processing machine" prior to Apr. 19, 1969. Such property generally qualified for the investment credit under sec. 46(c), I.R.C. 1954. Held, property, the construction of which commenced by the taxpayer prior to Apr. 19, 1969, is not subject to sec. 49(a), I.R.C. 1954, which "turned off" the investment credit for property constructed or acquired after such date, and such property is eligible for the credit without regard to sec. 49(b), relating to pre-termination property.
1Opinion of the Court
OPINION
Simpson, Judge:
This proceeding involves the petitioner’s motion for partial judgment on the pleadings.1 At this time, the only issue for decision is whether property, the construction of which commenced prior to April 19, 1969, is ineligible for the investment credit because of section 49, I.R.C. 1954.2
In his notice of deficiency, the Commissioner determined a deficiency of $31,223.29 in the petitioner’s Federal income tax for 1971. In such notice, the Commissioner determined that the investment credit claimed by the petitioner on its 1971 corporate income tax return far exceeded the…
2Cases cited6 opinions
- Walt Disney Productions v. United StatesCourt of Appeals for the Ninth Circuit · 1977
- Chi-Mil Corp. v. W. T. Grant Co.District Court, E.D. Wisconsin · 1976
- Sunbury Textile Mills, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1978
- Sartori v. CommissionerUnited States Tax Court · 1976
- Chi-Mil Corp. v. W. T. Grant Co.District Court, E.D. Wisconsin · 1976
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- OKC Corp. v. CommissionerUnited States Tax Court · 1984
- Erving Paper Mills Corp. v. CommissionerUnited States Tax Court · 1979
- OKC Corp. v. CommissionerUnited States Tax Court · 1984