Legal Opinion
Advance MacHinery Exchange, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided May 12, 1952No. 21447_1PublishedCited by 50 opinions
1Opinion of the Court
CHASE, Circuit Judge.
The Tax Court affirmed a deficiency assessment in the declared value excess profits taxes and excess profits taxes of the petitioner for the year 1942 on the ground that amounts of income reported by other taxpayers were properly allocable to the petitioner under §§ 45 and 22(a), I.R.C., 26 U.S.C.A. §§ 45 and 22(a). The Tax Court also affirmed the exclusion of certain amounts from the computation of the petitioner’s equity invested capital which was a credit in determining the excess profits tax due and from both of these determinations the petitioner has appealed. 1
Whethe…
2Cases cited6 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Lucas v. EarlSupreme Court of the United States · 1930
- Helvering v. HorstSupreme Court of the United States · 1940
- Higgins v. SmithSupreme Court of the United States · 1940
- National Securities Corp. v. Com'r of Internal RevenueCourt of Appeals for the Third Circuit · 1943
1 more not listed; retrieve them via the Exa API.
3Cited by50 opinions
- Kraft Foods Company v. Commissioner of Internal Revenue, (Two Cases)Court of Appeals for the Second Circuit · 1956
- Commissioner of Internal Revenue v. Chelsea Products, IncCourt of Appeals for the Third Circuit · 1952
- Sperapani v. CommissionerUnited States Tax Court · 1964
- Bush Hog Mfg. Co. v. CommissionerUnited States Tax Court · 1964
- Brittingham v. CommissionerUnited States Tax Court · 1976
45 more not listed; retrieve them via the Exa API.