Prudential Tobacco Co. v. Commissioner
United States Board of Tax Appeals
1. APPLICABLE ACT. - The Revenue Act of 1936, and not that of 1934, applies to a short period of three months beginning January 1, 1936. 2. UNDISTRIBUTED PROFITS TAX - CONSTITUTIONALITY. - The undistributed profits tax provisions are constitutional as applied to a short period ending before the act was approved.
1Opinion of the Court
PRUDENTIAL TOBACCO COMPANY, INC., BY O. H. CHALKLEY AND W. H. HATCHER, SURVIVING DIRECTORS ACTING AS TRUSTEES IN LIQUIDATION, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Prudential Tobacco Co. v. Commissioner
Docket No. 97348.
United States Board of Tax Appeals
42 B.T.A. 518; 1940 BTA LEXIS 990;
August 13, 1940, Promulgated
1. APPLICABLE ACT. - The Revenue Act of 1936, and not that of 1934, applies to a short period of three months beginning January 1, 1936.
2. UNDISTRIBUTED PROFITS TAX - CONSTITUTIONALITY. - The undistributed profits tax provisions are constitutional as applied to…
2Cases cited13 opinions
- Brushaber v. Union Pacific RailroadSupreme Court of the United States · 1916
- Nichols v. CoolidgeSupreme Court of the United States · 1927
- Welch v. HenrySupreme Court of the United States · 1938
- Blodgett v. HoldenSupreme Court of the United States · 1927
- Louisville Gas & Electric Co. v. ColemanSupreme Court of the United States · 1928
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