National Biscuit Co. v. Commissioner
United States Tax Court
1. Held, that the vacation pay in question is to be considered a "class of deductions" for the purpose of section 433 (b) (9), I. R. C. 1939 (Korean War Excess Profits Tax Law). 2. Held, that none of the provisions of section 433 (b) (10) apply to bar petitioner from invoking the benefits of section 433 (b) (9).
1Opinion of the Court
FisheR, Judge:
Respondent determined a deficiency in petitioner’s income and excess profits tax for 1950 of $219,504.64. The deficiency, to the extent in issue, is based on respondent’s determination that there should be no disallowance of the deduction for vacation pay in 1949, a base year, in computing petitioner’s excess profits tax credit for 1950 and 1951. The questions presented are (a) whether or not vacation pay constitutes a “class of deductions” as that term is used in section 433 (b) (9) of the Internal Revenue Code of 1939; and (b) whether any of the provisions of section 433 (b)…
2Cases cited9 opinions
- Arrow-Hart & Hegeman Electric Co. v. CommissionerUnited States Tax Court · 1946
- Weather-Seal Mfg. Co. v. CommissionerUnited States Tax Court · 1951
- Universal Optical Co. v. CommissionerUnited States Tax Court · 1948
- Mine & Smelter Supply Co. v. CommissionerUnited States Tax Court · 1948
- R. & J. Furniture Co. v. CommissionerUnited States Tax Court · 1953
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3Cited by4 opinions
- United States Steel Corp. v. United StatesDistrict Court, S.D. New York · 1970
- Thompson-Hayward Chemical Co. v. CommissionerUnited States Tax Court · 1958
- National Biscuit Co. v. CommissionerUnited States Tax Court · 1957
- Thompson-Hayward Chemical Co. v. CommissionerUnited States Tax Court · 1958