Post & Sheldon Corp. v. Commissioner
United States Board of Tax Appeals
In computing consolidated net income for 1928 of affiliated corporations having prior net losses, intercompany transactions which in any way effect the total net income or the separate net income or apportioned tax of any memebr must be eliminated.
1Opinion of the Court
POST AND SHELDON CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Post & Sheldon Corp. v. Commissioner
Docket No. 56695.
United States Board of Tax Appeals
28 B.T.A. 26; 1933 BTA LEXIS 1201;
May 4, 1933, Promulgated
In computing consolidated net income for 1928 of affiliated corporations having prior net losses, intercompany transactions which in any way effect the total net income or the separate net income or apportioned tax of any memebr must be eliminated.
M. Z. Ottenstein, C.P.A., for the petitioner.
J. M. Leinenkugel, Esq., for the respondent.
STERNHAGEN
OPINION.
STERNHAGEN…
2Cases cited1 opinion
- Post & Sheldon Corp. v. CommissionerUnited States Board of Tax Appeals · 1933