Legal Opinion
Northwestern Steel & Wire Co. v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided March 1, 1945No. 8535PublishedCited by 2 opinions
1Opinion of the Court
EVANS, Circuit Judge.
This appeal involves the correctness of the ruling of the Commissioner, approved by the U. S. Tax Court, which denied taxpayer, the petitioner herein, a credit on its surtax for undistributed profits. The Commissioner assessed a deficiency tax of *720$40,376.27 (of which $38,449.01 is in dispute) against petitioner for the fiscal year ending July 31, 1937. This assessment grew out of the provision of Revenue Act of 1936 which levied a surtax on the undistributed net income of a corporation.
The question we must determine arises out of the exception appearing in Section 26(c)…
2Cases cited7 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- Helvering v. Northwest Steel Rolling Mills, Inc.Supreme Court of the United States · 1940
- Kaufmann Department Stores Securities Corp. v. CommissionerCourt of Appeals for the Third Circuit · 1944
- Commissioner v. Columbia River Paper MillsCourt of Appeals for the Ninth Circuit · 1942
2 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Commissioner of Internal Revenue v. Midland Electric Coal Corp.Court of Appeals for the Seventh Circuit · 1945
- Commissioner of Internal Revenue v. Midland Electric Coal Corp.Court of Appeals for the Seventh Circuit · 1945