Wilkes-Barre Carriage Co. v. Commissioner
United States Tax Court
Held, (1) there was no overpayment in petitioner's 1943 excess profits tax; and (2) the deficiency in petitioner's 1943 taxes may reflect not only uncontested adjustments made by the Commissioner but also the amount of taxes previously assessed which were allowed as a credit under section 3806(b), I.R.C. 1939, in discharge of petitioner's liability to restore excessive profits determined in renegotiation proceedings, where such previously assessed taxes had not in fact been…
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Held, (1) there was no overpayment in petitioner's 1943 excess profits tax; and (2) the deficiency in petitioner's 1943 taxes may reflect not only uncontested adjustments made by the Commissioner but also the amount of taxes previously assessed which were allowed as a credit under section 3806(b), I.R.C. 1939, in discharge of petitioner's liability to restore excessive profits determined in renegotiation proceedings, where such previously assessed taxes had not in fact been paid. Rev. Rul. 55-474, 1955-2 C.B. 673. Cf. Morris Kurtzon, 17 T.C. 1542.
1Opinion of the Court
OPINION.
Raum, Judge:
The statutory notice of deficiency, issued in July 1956, relates to petitioner’s tax liability for the fiscal years ended July 31, 1943, through July 31, 1947, but fiscal 1943 is the only year presently in dispute.1 The facts have been fully stipulated.
Petitioner, an accrual basis taxpayer with a fiscal year ending July 31, is a Delaware corporation, and was engaged during the taxable years in the manufacture of ordnance for the armed services of the United States and Great Britain. Its offices were in New York City, and it filed its Federal income and excess profits tax…
2Cases cited15 opinions
- Helvering v. RankinSupreme Court of the United States · 1935
- Acer Realty Co. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1942
- Lillian Bernstein, of the Estate of Kalman Bernstein, Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1959
- Universal Oil Products Co. v. Campbell (United States, Intervenor) (Two Cases)Court of Appeals for the Seventh Circuit · 1950
- Crowell v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1932
10 more not listed; retrieve them via the Exa API.
3Cited by51 opinions
- Bixby v. CommissionerUnited States Tax Court · 1972
- Estate of Beck v. Comm'rUnited States Tax Court · 1971
- Church of Scientology v. CommissionerUnited States Tax Court · 1984
- Diamond v. CommissionerUnited States Tax Court · 1971
- United States v. Garth GuyCourt of Appeals for the Sixth Circuit · 1992
46 more not listed; retrieve them via the Exa API.