A B C Brewing Corp. v. Commissioner
United States Tax Court
1. Carry-back of unused excess profits tax credits for 1945 and 1946 denied where petitioner distributed its operating assets and was de facto dissolved in 1944. 2. In the computation of average base period net income under the growth formula of section 713 (f), respondent correctly applied the limitations imposed by subsection (f) (7), in addition to those imposed by subsection (f) (6), limiting the benefits from the application of the growth formula to the increase in base…
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1. Carry-back of unused excess profits tax credits for 1945 and 1946 denied where petitioner distributed its operating assets and was de facto dissolved in 1944. 2. In the computation of average base period net income under the growth formula of section 713 (f), respondent correctly applied the limitations imposed by subsection (f) (7), in addition to those imposed by subsection (f) (6), limiting the benefits from the application of the growth formula to the increase in base period earnings occurring prior to June 1, 1940. 3. In adjusting excess profits credit under section 713 (g) (4),…
1Opinion of the Court
A B C Brewing Corp. (Formerly Aztec Brewing Company), a California Corporation, Petitioner, v. Commissioner of Internal Revenue, Respondent
A B C Brewing Corp. v. Commissioner
Docket Nos. 6701, 11570
United States Tax Court
20 T.C. 515; 1953 U.S. Tax Ct. LEXIS 129;
May 29, 1953, Promulgated
Decisions will be entered under Rule 50.
1. Carry-back of unused excess profits tax credits for 1945 and 1946 denied where petitioner distributed its operating assets and was de facto dissolved in 1944.
2. In the computation of average base period net income under the growth formula of section 713 (f), respondent…
2Cases cited16 opinions
- Lamar Creamery Co. v. CommissionerUnited States Tax Court · 1947
- Stern Bros. & Co. v. CommissionerUnited States Tax Court · 1951
- Avey Drilling Machine Co. v. CommissionerUnited States Tax Court · 1951
- East Texas Motor Freight Lines v. CommissionerUnited States Tax Court · 1946
- Wier Long Leaf Lumber Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1949
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