Hawley Inv. Co. v. Commissioner
United States Board of Tax Appeals
The net loss of one of the affiliated corporations for the year 1926, at which time it was not a member of the affiliated group, operates to reduce the consolidated net income for the year 1927 under section 206(b) of the Revenue Act of 1926, even though such corporation having the net loss in 1926 also had a net loss in 1927. Ben Ginsburg Co.,19 B.T.A. 81, followed.
1Opinion of the Court
HAWLEY INVESTMENT COMPANY, PACIFIC NASH MOTOR COMPANY, AND BUTLER-VEITCH COMPANY, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
PACIFIC NASH MOTOR COMPANY, HAWLEY INVESTMENT COMPANY, AND BUTLER-VEITCH COMPANY, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Hawley Inv. Co. v. Commissioner
Docket Nos. 45169, 45170.
United States Board of Tax Appeals
23 B.T.A. 953; 1931 BTA LEXIS 1789;
June 30, 1931, Promulgated
The net loss of one of the affiliated corporations for the year 1926, at which time it was not a member of the affiliated group, operates to reduce the…
2Cases cited2 opinions
- Ben Ginsburg Co. v. CommissionerUnited States Board of Tax Appeals · 1930
- Hawley Inv. Co. v. CommissionerUnited States Board of Tax Appeals · 1931