Neilsen Lithographing Co. v. Commissioner
United States Tax Court
1. Excess Profits Tax -- Section 722 (b) (4) -- Change in Character of Business. -- Petitioner installed a photo-mechanical method for producing lithograph press plates and thereby eliminated the hand-transfer process for making these plates.
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1. Excess Profits Tax -- Section 722 (b) (4) -- Change in Character of Business. -- Petitioner installed a photo-mechanical method for producing lithograph press plates and thereby eliminated the hand-transfer process for making these plates. Held, petitioner changed the character of its business and a constructive average base period net income has been determined. 2. Excess Profits Tax Credit Carry-Over -- Section 710 (c). -- Held, unused excess profits tax credit carry-over, based on a constructive average base period net income, available to petitioner in year section 722 relief was…
1Opinion of the Court
OPINION.
Johnson, Judge:
Petitioner alleges that under section 722 (b) (4) the character of its business was changed by a change in the operation of its business. The change in operation involved the installation of photo-mechanical equipment to produce zinc press plates, thereby eliminating the hand-transfer process for making these plates. Petitioner contends that operating economies were achieved by the installation of this new equipment, and that reduction in costs increased the income, thus entitling it to relief under section 722 (b) (4). Petitioner claims that its actual average base…
2Cases cited4 opinions
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- Victory Glass, Inc. v. CommissionerUnited States Tax Court · 1951
- Jefferson Amusement Co. v. CommissionerUnited States Tax Court · 1952
- Suburban Transp. System v. CommissionerUnited States Tax Court · 1950
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- Headline Publications, Inc. v. CommissionerUnited States Tax Court · 1957
- Peter J. Schweitzer, Inc. v. CommissionerUnited States Tax Court · 1958
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