Crossfield Products Corp. v. Commissioner
United States Tax Court
Petitioner, a corporation required to compute excess profits on the invested capital basis without the benefit of section 722, produced and sold, under an exclusive license, a product marketed under the name of Dex-O-Tex and had exclusive rights for the sale of chain ladders in limited territory. Licenses for production and sale of Dex-O-Tex were held by two other corporations from 1938 until 1942 when petitioner acquired the right.
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Petitioner, a corporation required to compute excess profits on the invested capital basis without the benefit of section 722, produced and sold, under an exclusive license, a product marketed under the name of Dex-O-Tex and had exclusive rights for the sale of chain ladders in limited territory. Licenses for production and sale of Dex-O-Tex were held by two other corporations from 1938 until 1942 when petitioner acquired the right. The prior licensees sustained operating losses in 1938, 1939, and 1940. Restrictions on the use of rubber, an ingredient of Dex-O-Tex, restricted normal…
1Opinion of the Court
Crossfield Products Corporation, Petitioner, v. Commissioner of Internal Revenue, Respondent
Crossfield Products Corp. v. Commissioner
Docket No. 33026
United States Tax Court
20 T.C. 97; 1953 U.S. Tax Ct. LEXIS 191;
April 20, 1953, Promulgated
Decision will be entered under Rule 50.
Petitioner, a corporation required to compute excess profits on the invested capital basis without the benefit of section 722, produced and sold, under an exclusive license, a product marketed under the name of Dex-O-Tex and had exclusive rights for the sale of chain ladders in limited territory. Licenses for production…
2Cases cited8 opinions
- Wisconsin Farmer Co. v. CommissionerUnited States Tax Court · 1950
- 7-Up Ft. Worth Co. v. CommissionerUnited States Tax Court · 1947
- Danco Co. v. CommissionerUnited States Tax Court · 1950
- Victory Glass, Inc. v. CommissionerUnited States Tax Court · 1951
- General Metalware Co. v. CommissionerUnited States Tax Court · 1951
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