E. T. Renfro Drug Co. v. Commissioner of Internal Revenue

RUSSELL, Circuit Judge.

The question presented by the petition for review in this case, is whether the Tax Court erred in sustaining a determination of the Commissioner of the excess profit credit,1 based upon income, to which the petitioner for review was entitled for the calendar years 1940, 1941, 1942 and 1943, by refusing to add to, or include in petitioner’s base period (1936 to 1939, inclusive) net income the average base period net income of four certain partnerships, of which petitioner claims to have been an “acquiring corporation,” and the said partnerships •claimed to have been…