Yellow Cab Co. v. Commissioner
United States Tax Court
1. Held, that petitioner's business was not depressed during its base period due to temporary economic circumstances unusual in its case, within the meaning of section 722(b)(2) of the 1939 Code; and accordingly petitioner does not qualify for excess profits tax relief under said section. 2. Held, that petitioner changed the character of its business during its base period within the meaning of section 722(b)(4) by virtue of a change in its management, a change in its method…
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1. Held, that petitioner's business was not depressed during its base period due to temporary economic circumstances unusual in its case, within the meaning of section 722(b)(2) of the 1939 Code; and accordingly petitioner does not qualify for excess profits tax relief under said section. 2. Held, that petitioner changed the character of its business during its base period within the meaning of section 722(b)(4) by virtue of a change in its management, a change in its method of operation, and an increase in its capacity for operation. Held, further, that petitioner's average base period net…
1Opinion of the Court
Yellow Cab Company, Incorporated, Petitioner, v. Commissioner of Internal Revenue, Respondent
Yellow Cab Co. v. Commissioner
Docket No. 32373
United States Tax Court
35 T.C. 791; 1961 U.S. Tax Ct. LEXIS 213;
February 28, 1961, Filed
Decision will be entered for the respondent.
1. Held, that petitioner's business was not depressed during its base period due to temporary economic circumstances unusual in its case, within the meaning of section 722(b)(2) of the 1939 Code; and accordingly petitioner does not qualify for excess profits tax relief under said section.
2. Held, that petitioner changed the…
2Cases cited6 opinions
- Lamar Creamery Co. v. CommissionerUnited States Tax Court · 1947
- Granite Constr. Co. v. CommissionerUnited States Tax Court · 1952
- West Flagler Amusement Co. v. CommissionerUnited States Tax Court · 1954
- Clermont Groves, Inc. v. CommissionerUnited States Tax Court · 1952
- Constitution Publishing Co. v. CommissionerUnited States Tax Court · 1954
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