Toledo Stove & Range Co. v. Commissioner
United States Tax Court
Petitioner, a manufacturer of gray iron castings, operated at a loss in each of the years 1936, 1937, 1938, and 1939. In the years from 1922 to 1939 it had net earnings in only five years.
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Petitioner, a manufacturer of gray iron castings, operated at a loss in each of the years 1936, 1937, 1938, and 1939. In the years from 1922 to 1939 it had net earnings in only five years. Held, that petitioner has not shown that its business was depressed in the base period so as to qualify for relief under section 722 (b) (2) or (b) (3) (A), I. R. C.; and held further, that a change in general managers in 1935 which did not result in any significant change in basic management policies or earnings fails to establish petitioner's right to relief under section 722 (b) (4).
1Opinion of the Court
OPINION.
Tietjens, Judge:
At the outset it is necessary to define the issues in this proceeding. On brief and at the hearing petitioner has insisted that all possible grounds for relief under section 722 were raised in the applications filed with the Commissioner as well as in the petitions filed with this Court. Respondent, on the other hand, has argued that petitioner is limited to claims under subsections (b) (2), (b) (3) (A), and (b) (4), and at the hearing orally moved that petitioner be so restricted. The motion was taken under advisement with leave given to argue on brief whether the…
2Cases cited6 opinions
- Monarch Cap Screw & Mfg. Co. v. CommissionerUnited States Tax Court · 1945
- Mutual Lumber Co. v. CommissionerUnited States Tax Court · 1951
- Danco Co. v. CommissionerUnited States Tax Court · 1950
- Harlan Bourbon & Wine Co. v. CommissionerUnited States Tax Court · 1950
- Foskett & Bishop Co. v. CommissionerUnited States Tax Court · 1951
1 more not listed; retrieve them via the Exa API.
3Cited by42 opinions
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- Jefferson Amusement Co. v. CommissionerUnited States Tax Court · 1952
- Miami Valley Coated Paper Co. v. CommissionerUnited States Tax Court · 1957
- Kentucky Whip & Collar Co. v. CommissionerUnited States Tax Court · 1953
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