North Carolina Lumber Co. v. Commissioner of Internal Revenue

PARKER, Chief Judge.

This is a petition to review a decision of the Tax Court which denied to taxpayer the right to have section 108(b) of the Internal Revenue Code, 26 U.S. C.A., applied in computing for the fiscal year ending November 30, 1944, the declared value excess profits tax imposed by section 600 of the Internal Revenue Code. In the Tax Court, taxpayer raised a number of points which were decided adversely to its contentions and which áre not insisted on here. See 19 T.C. 587. In this court the question presented relates to taxpayer’s right to have the allocation formula prescribed…