Utility Appliance Corp. v. Commissioner
United States Tax Court
Petitioner filed a claim for relief under section 722 for the year 1944. In that claim no reference was made to any carryback of unused excess profits credit from 1945. A tentative carryback of such credit was allowed but was not computed on any constructive average base period net income for 1945. After the time prescribed by section 322 (b) (6) petitioner claimed such carryback as so computed.
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Petitioner filed a claim for relief under section 722 for the year 1944. In that claim no reference was made to any carryback of unused excess profits credit from 1945. A tentative carryback of such credit was allowed but was not computed on any constructive average base period net income for 1945. After the time prescribed by section 322 (b) (6) petitioner claimed such carryback as so computed. Thereafter the parties agreed on the constructive average base period net income of petitioner for 1944 and 1945. Held, petitioner had filed no timely claim for a carryback to 1944 of unused excess…
1Opinion of the Court
OPINION.
Kern, Judge:
In this case, submitted under Rule 30, it is stipulated that “the sole issue is whether petitioner has a timely claim for an unused excess profits credit arising from the use of a constructive average base period net income for carryback purposes, so that a constructive average base period net income for the year 1945 may be employed for the purpose of computing the unused excess profits credit carryback from 1945 to 1944.”
Petitioner is a corporation organized under the laws of the State of California. It filed its returns for the periods here involved with the collector…
2Cases cited3 opinions
- Barry-Wehmiller Machinery Co. v. CommissionerUnited States Tax Court · 1953
- St. Louis Amusement Co. v. CommissionerUnited States Tax Court · 1954
- May Seed & Nursery Co. v. CommissionerUnited States Tax Court · 1955
3Cited by11 opinions
- Headline Publications, Inc. v. CommissionerUnited States Tax Court · 1957
- Feature Publications, Inc. v. CommissionerUnited States Tax Court · 1957
- H. J. Heinz Co. v. CommissionerUnited States Tax Court · 1959
- Dale Distributing Co. v. CommissionerUnited States Tax Court · 1958
- Gillette Co. v. CommissionerUnited States Tax Court · 1961
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