Petersburg Television Corp. v. Commissioner
United States Tax Court
Held, respondent did not err in disallowing $88,609.54 of the net operating loss deduction of $195,506.11 claimed in petitioner's return for the fiscal year ending August 31, 1956, as a net operating loss carryover from the fiscal year ending August 31, 1955. Held, further, respondent did not err in disallowing a part of the amounts claimed for amortization of leasehold improvements and organization expenses in the fiscal years ending August 31, 1956, and 1957.
1Opinion of the Court
Petersburg Television Corporation v. Commissioner.
Petersburg Television Corp. v. Commissioner
Docket No. 79074.
United States Tax Court
T.C. Memo 1961-49; 1961 Tax Ct. Memo LEXIS 295; 20 T.C.M. (CCH) 271; T.C.M. (RIA) 61049;
February 27, 1961
Held, respondent did not err in disallowing $88,609.54 of the net operating loss deduction of $195,506.11 claimed in petitioner's return for the fiscal year ending August 31, 1956, as a net operating loss carryover from the fiscal year ending August 31, 1955.
Held, further, respondent did not err in disallowing a part of the amounts claimed for amortization of…
2Cases cited18 opinions
- Automobile Club of Mich. v. CommissionerSupreme Court of the United States · 1957
- Frank v. CommissionerUnited States Tax Court · 1953
- Polachek v. CommissionerUnited States Tax Court · 1954
- Walet v. CommissionerUnited States Tax Court · 1958
- Radio Station WBIR, Inc. v. CommissionerUnited States Tax Court · 1959
13 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Richmond Television Corporation v. United StatesCourt of Appeals for the Fourth Circuit · 1965
- Richmond Television Corporation v. United StatesCourt of Appeals for the Fourth Circuit · 1965