Hemenway-Johnson Furniture Co. v. Commissioner
United States Tax Court
Held, petitioner has not reconstructed a fair and just amount representing normal earnings because it took into consideration events and conditions occuring after December 31, 1939, consideration of which for such purpose being prohibited under section 722 (a) of the Internal Revenue Code.
1Opinion of the Court
Hemenway-Johnson Furniture Co., Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Hemenway-Johnson Furniture Co. v. Commissioner
Docket No. 27201
United States Tax Court
19 T.C. 782; 1953 U.S. Tax Ct. LEXIS 247;
January 28, 1953, Promulgated
Decision will be entered for the respondent.
Held, petitioner has not reconstructed a fair and just amount representing normal earnings because it took into consideration events and conditions occuring after December 31, 1939, consideration of which for such purpose being prohibited under section 722 (a) of the Internal Revenue Code.
Laurence F.…
2Cases cited5 opinions
- Wisconsin Farmer Co. v. CommissionerUnited States Tax Court · 1950
- Danco Co. v. CommissionerUnited States Tax Court · 1950
- Godfrey Food Co. v. CommissionerUnited States Tax Court · 1952
- Singer Bros., Inc. v. CommissionerUnited States Tax Court · 1950
- Hemenway-Johnson Furniture Co. v. CommissionerUnited States Tax Court · 1953