Atlas Foundry Co. v. Commissioner
United States Tax Court
Petitioner, an Indiana corporation, seeks relief from excess profits taxes under section 722 (b) (1), (b) (4), and (b) ( 5) of the Internal Revenue Code of 1939, as amended. Held, petitioner failed to establish facts which would support a constructive average base period net income yielding an excess profits credit greater than that available without the application of section 722.
1Opinion of the Court
Atlas Foundry Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Atlas Foundry Co. v. Commissioner
Docket No. 47758
United States Tax Court
31 T.C. 623; 1958 U.S. Tax Ct. LEXIS 2;
December 31, 1958, Filed
Decision will be entered for the respondent.
Petitioner, an Indiana corporation, seeks relief from excess profits taxes under section 722 (b) (1), (b) (4), and (b) ( 5) of the Internal Revenue Code of 1939, as amended. Held, petitioner failed to establish facts which would support a constructive average base period net income yielding an excess profits credit greater than that…
2Cases cited6 opinions
- Homer Laughlin China Co. v. CommissionerUnited States Tax Court · 1946
- Stimson Mill Co. v. CommissionerUnited States Tax Court · 1946
- Stimson Mill Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1947
- D. L. Auld Co. v. CommissionerUnited States Tax Court · 1952
- Powell-Hackney Grocery Co. v. CommissionerUnited States Tax Court · 1952
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