Legal Opinion
Select Theatres Corp. v. Johnson
District Court, S.D. New York
Decided September 29, 1956PublishedCited by 3 opinions
1Opinion of the Court
BICKS, District Judge.
Plaintiff claims to have overpaid income and excess profits taxes for its fiscal year ended June 30, 1943 by $143,-069.79 and brings this suit to recover the alleged overpayment. Its right to prevail turns principally upon whether certain of its assets were acquired in a tax-free reorganization.
The Internal Revenue Code of 1939, section 710, 26 U.S.C.A. Excess Profits Taxes, § 710, imposed a tax on the “adjusted excess-profits net income” of corporate taxpayers. Broadly speaking, this was the taxpayer’s net income for the year, reduced by a credit deemed to represent the…
2Cases cited25 opinions
- Case v. Los Angeles Lumber Products Co.Supreme Court of the United States · 1939
- Roehm v. HorstSupreme Court of the United States · 1900
- Northern Pacific Railway Co. v. BoydSupreme Court of the United States · 1913
- Pinellas Ice & Cold Storage Co. v. CommissionerSupreme Court of the United States · 1933
- Helvering v. Alabama Asphaltic Limestone Co.Supreme Court of the United States · 1942
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3Cited by3 opinions
- Adkins v. Uncle Bart's, Inc.Utah Supreme Court · 2000
- Select Theatres Corporation v. James W. Johnson, Collector of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- Select Theatres Corp. v. JohnsonCourt of Appeals for the Second Circuit · 1957