Legal Opinion
Lewyt Corp. v. Commissioner
Supreme Court of the United States
Decided May 23, 1955No. 417PublishedCited by 157 opinions
1Opinion of the CourtJustice Douglas
This case is a companion case to United States v. Olympic Radio & Television, Inc., ante, p. 232. The main point in the two cases is the same — whether a taxpayer on the accrual basis can, in computing its net operating loss for one year, deduct the amount of excess profits *238taxes which were paid in that year but had accrued in an earlier year.
The years 1944 and 1945 were years of profit for the taxpayer. For the years 1946 and 1947, the taxpayer incurred net operating losses which were allowed by the Commissioner as carry-back deductions to the years 1944 and 1945. The taxpayer sought to…
2Cases cited6 opinions
- Security Flour Mills Co. v. CommissionerSupreme Court of the United States · 1944
- Bullen v. WisconsinSupreme Court of the United States · 1916
- Manning v. Seeley Tube & Box Co.Supreme Court of the United States · 1950
- Lewyt Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1954
- United States v. Koppers Co.Supreme Court of the United States · 1955
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3Cited by157 opinions
- Libson Shops, Inc., v. Koehler, District Director of Internal RevenueSupreme Court of the United States · 1957
- Centex Corp. v. United StatesCourt of Appeals for the Federal Circuit · 2005
- United States v. Felix Benitez RexachCourt of Appeals for the First Circuit · 1973
- Stolk v. CommissionerUnited States Tax Court · 1963
- Elizabeth N. Callaway v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 2000
152 more not listed; retrieve them via the Exa API.