7-Up Ft. Worth Co. v. Commissioner
United States Tax Court
1. Upon the evidence, held, petitioner has established under section 722 (b) (4), I. R. C., as amended, that its excess profits tax for the fiscal years ended April 30, 1942 and 1943, computed without the benefit of this section, was excessive and discriminatory where its average base period net income was an inadequate standard of normal earnings because it commenced business after the beginning of the base period and changed the character of its business during the base…
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1. Upon the evidence, held, petitioner has established under section 722 (b) (4), I. R. C., as amended, that its excess profits tax for the fiscal years ended April 30, 1942 and 1943, computed without the benefit of this section, was excessive and discriminatory where its average base period net income was an inadequate standard of normal earnings because it commenced business after the beginning of the base period and changed the character of its business during the base period by making a change in its operation and management and by adding a new product. 2. Upon the evidence, determination…
1Opinion of the Court
OPINION.
Harlan, Jvdge:
The question presented is whether petitioner is entitled to any relief from excess profits tax for the fiscal years ended April 30,1942, and April 30,1943, under the provisions of section 722 of the Internal Revenue Code,2 as amended, and if so, the amount thereof.
Although the petitioner’s assignment of error in its petition indicates it is seeking relief under the provisions of subsections (b) (2), (4) and (5), of section 722, no facts were stated to the respondent in its claim for relief under subsections (b) (2) and (5). Its claim for relief under these subsections…
2Cases cited3 opinions
- Monarch Cap Screw & Mfg. Co. v. CommissionerUnited States Tax Court · 1945
- Blum Folding Paper Box Co. v. CommissionerUnited States Tax Court · 1945
- East Texas Motor Freight Lines v. CommissionerUnited States Tax Court · 1946
3Cited by63 opinions
- Lamar Creamery Co. v. CommissionerUnited States Tax Court · 1947
- Wisconsin Farmer Co. v. CommissionerUnited States Tax Court · 1950
- Avey Drilling Machine Co. v. CommissionerUnited States Tax Court · 1951
- Foskett & Bishop Co. v. CommissionerUnited States Tax Court · 1951
- Pabst Air Conditioning Corp. v. CommissionerUnited States Tax Court · 1950
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