Empire Liquor Corp. v. Commissioner
United States Tax Court
Petitioner, a wholesale liquor distributor, claims relief from excess profits tax under section 722 (b) (2) and (b) (4) of the 1939 Code. Held, petitioner has shown that it commenced business during the base period within the meaning of section 722 (b) (4), but has failed to establish a constructive average base period net income in excess of its invested capital credits for the years in issue.
1Opinion of the Court
Empire Liquor Corporation, Petitioner, v. Commissioner of Internal Revenue, Respondent
Empire Liquor Corp. v. Commissioner
Docket No. 29681
United States Tax Court
25 T.C. 1183; 1956 U.S. Tax Ct. LEXIS 250;
March 9, 1956, Filed
Decision will be entered for the respondent.
Petitioner, a wholesale liquor distributor, claims relief from excess profits tax under section 722 (b) (2) and (b) (4) of the 1939 Code. Held, petitioner has shown that it commenced business during the base period within the meaning of section 722 (b) (4), but has failed to establish a constructive average base period net income…
2Cases cited4 opinions
- Harlan Bourbon & Wine Co. v. CommissionerUnited States Tax Court · 1950
- Triangle Raincoat Co. v. CommissionerUnited States Tax Court · 1952
- Godfrey Food Co. v. CommissionerUnited States Tax Court · 1952
- Empire Liquor Corp. v. CommissionerUnited States Tax Court · 1956