Forest Producing Corp. v. Commissioner

GOODRICH, Circuit Judge.

The petitioner, Forest Producing Corporation, seeks review of a decision of the Board of Tax Appeals, now the Tax Court of the United States. The taxpayer’s complaint is the alleged error of the Board in affirming the Commissioner’s determination of deficiencies in income taxes against it for .the years 1936 and 1937. These deficiencies came through refusal to allow a claimed credit under the provisions of § 26(c) (1) of the Revenue Act of 1936, 26 U.S.C.A. Int.Rev.Acts, page 836,1 in the computation of its undistributed profits surtax. Petitioner’s case turns upon the…