Aycock v. Commissioner
United States Tax Court
Corporation organized April 1942 and dissolved 4 months later, having no actual business history for any 12-month period, held not entitled to use actual experience method prescribed in Internal Revenue Code, section 711 (a) (3) (B), for computing its excess profits tax.
1DissentJohnson, J.
In sustaining respondent’s determination, the majority rely primarily on the view that, for the provisions of section 711 (a) (3) (B) to be applicable:
* * * the taxpayer must establish “its adjusted excess profits net income for the period of twelve months,” where such a 12-month period exists from the beginning of the short taxable year.
And, because “there is no such 12-month period in this case,” they conclude that “the available information does not permit the petitioners to comply with the requirements of subdivision (B)” and that the general rule of subsection (A) must therefore be…
2Cases cited2 opinions
- United States v. American Trucking AssociationsSupreme Court of the United States · 1940
- Crossett Western Co. v. CommissionerUnited States Tax Court · 1945