American Coast Line, Inc. v. Commissioner
United States Tax Court
Taxable Period, Calendar Year or Fiscal Year. -- The Commissioner did not err in determining the petitioner's subchapter E excess profits tax on the basis of the calendar year 1940 where the petitioner kept its books and filed its returns on that basis and never received permission to file any tax return for a period beginning prior to December 31, 1939, and ending thereafter. 2. Jurisdiction -- Repeal of Law in Section 722 Issue. -- The Tax Court has no jurisdiction over a…
Read the full summary
Taxable Period, Calendar Year or Fiscal Year. -- The Commissioner did not err in determining the petitioner's subchapter E excess profits tax on the basis of the calendar year 1940 where the petitioner kept its books and filed its returns on that basis and never received permission to file any tax return for a period beginning prior to December 31, 1939, and ending thereafter. 2. Jurisdiction -- Repeal of Law in Section 722 Issue. -- The Tax Court has no jurisdiction over a section 722 issue where the proceeding does not come within the provisions of section 732; held, further, that if…
1Opinion of the Court
OPINION.
Murdock, Judge:
The excess profits tax here in question (sub-chapter E) was first imposed by section 710 (a) of the Internal Revenue Code. See section 201, Second Revenue Act of 1940. It was imposed “for each taxable year beginning after December 31, 1939.” The petitioner is endeavoring to show that it had a fiscal year beginning prior to December 31, 1939, and ending on June 30, 1940. It would thus avoid most, if not all, excess profits tax liability, since it operated only seven days after June 30, 1940. It requested permission to file its tax reports upon a fiscal year basis.…
2Cases cited3 opinions
- Railroad Co. v. GrantSupreme Court of the United States · 1879
- Pioneer Parachute Co. v. CommissionerUnited States Tax Court · 1944
- Uni-Term Stevedoring Co. v. CommissionerUnited States Tax Court · 1944
3Cited by22 opinions
- J.R. Betson, Jr. And Joan Sue Betson v. Commissioner of Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1986
- Mutual Lumber Co. v. CommissionerUnited States Tax Court · 1951
- Martin Weiner Corp. v. CommissionerUnited States Tax Court · 1954
- Ideal Packing Co. v. CommissionerUnited States Tax Court · 1947
- Sommerfeld Machine Co. v. CommissionerUnited States Tax Court · 1948
17 more not listed; retrieve them via the Exa API.