Clarence Whitman & Sons v. Commissioner
United States Tax Court
1. The deficiency notice for 1941 tax was mailed July 31, 1945. The petition was filed October 23, 1945, and waivers were executed and filed extending the period for assessment to June 30, 1947. Held, the assessment is not barred by the statute of limitations. 2. In 1928 the Board of Tax Appeals held that the intangibles of this taxpayer at its organization in 1918 had a value of "at least $ 412,500," which was 25 per cent of the outstanding capital stock and the allowable…
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1. The deficiency notice for 1941 tax was mailed July 31, 1945. The petition was filed October 23, 1945, and waivers were executed and filed extending the period for assessment to June 30, 1947. Held, the assessment is not barred by the statute of limitations. 2. In 1928 the Board of Tax Appeals held that the intangibles of this taxpayer at its organization in 1918 had a value of "at least $ 412,500," which was 25 per cent of the outstanding capital stock and the allowable limit under the statute therein involved. Held, that, since the statute herein involved prescribes no such limit, we are…
1Opinion of the Court
Clarence Whitman & Sons, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Clarence Whitman & Sons v. Commissioner
Docket No. 9436
United States Tax Court
10 T.C. 264; 1948 U.S. Tax Ct. LEXIS 268;
February 10, 1948, Promulgated
Decision will be entered under Rule 50.
1. The deficiency notice for 1941 tax was mailed July 31, 1945. The petition was filed October 23, 1945, and waivers were executed and filed extending the period for assessment to June 30, 1947. Held, the assessment is not barred by the statute of limitations.
2. In 1928 the Board of Tax Appeals held that the intangibles…
2Cases cited4 opinions
- Toledo Newspaper Co. v. CommissionerUnited States Tax Court · 1943
- Rainier Brewing Co. v. CommissionerUnited States Tax Court · 1946
- Four Twelve West Sixth Co. v. CommissionerUnited States Tax Court · 1946
- Clarence Whitman & Sons v. CommissionerUnited States Tax Court · 1948