Henry Glass & Co. v. Commissioner
United States Tax Court
Excess Profits Tax, Sec. 722. -- Held, that petitioner is not entitled to relief under section 722 (a), (b)(1), (b)(4), and (b)(5) for the taxable fiscal years ended June 30, 1941 to 1946, inclusive, or to the benefit of any carryover from the fiscal year ended June 30, 1940, based on a constructive average base period net income for those years.
1Opinion of the Court
Keen, Judge:
The petitioner contests the respondent’s disallowance of its timely filed applications for relief under section 722 of the Internal Revenue Code of 1939 and related claims for refund of excess profits taxes for the fiscal years ended June 30, 1941 to 1946, inclusive. Petitioner also claims benefit of a carryover credit from the fiscal year 1940.
The questions presented for decision are whether the petitioner has established the existence of qualifying factors for relief under .section 722(b)(1), (b)(4), and (b)(5), and, if so, whether the petitioner has established a fair and just…
2Cases cited3 opinions
- Crowell-Collier Pub. Co. v. CommissionerUnited States Tax Court · 1956
- The Crowell-Collier Publishing Company v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1958
- Old Homestead Bread Co. v. CommissionerUnited States Tax Court · 1957
3Cited by2 opinions
- Henry Glass & Co. v. CommissionerUnited States Tax Court · 1960
- Isaacs v. Comm'rUnited States Tax Court · 2015