Alabama By-Products Corp. v. Commissioner
United States Board of Tax Appeals
A corporation which suffered a net loss in 1919, prior to entering an affiliated group in 1920, is entitled to have the amount of such net loss in excess of its 1918 net income allowed as a deduction in computing net income for 1920, and the resulting deficit should be reflected in the computation of the consolidated net income for 1920. Section 204(b), Revenue Act of 1918.
1Opinion of the Court
ALABAMA BY-PRODUCTS CORPORATION, BIRMINGHAM COKE & BY-PRODUCTS CO., MAJESTIC COAL CO., AND IMPERIAL COAL & COKE CO., PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Alabama By-Products Corp. v. Commissioner
Docket No. 21808.
United States Board of Tax Appeals
18 B.T.A. 919; 1930 BTA LEXIS 2573;
January 24, 1930, Promulgated
A corporation which suffered a net loss in 1919, prior to entering an affiliated group in 1920, is entitled to have the amount of such net loss in excess of its 1918 net income allowed as a deduction in computing net income for 1920, and the resulting deficit…
2Cases cited2 opinions
- Alabama By-Products Corp. v. CommissionerUnited States Board of Tax Appeals · 1930
- Moore Cotton Mills Co. v. CommissionerUnited States Board of Tax Appeals · 1929