H. J. Heinz Co. v. Commissioner
United States Tax Court
An unused excess profits credit arising in 1941 under section 713 of the Internal Revenue Code of 1939 was not specifically claimed as a carryover to 1943 on a timely section 722 claim filed for that year but was asserted on an amended claim filed after the statutory period but before final determination of the timely claim.
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An unused excess profits credit arising in 1941 under section 713 of the Internal Revenue Code of 1939 was not specifically claimed as a carryover to 1943 on a timely section 722 claim filed for that year but was asserted on an amended claim filed after the statutory period but before final determination of the timely claim. Held, the carryover did not arise from a credit based upon a CABPNI and need not be claimed pursuant to the regulations issued under section 722; held, further, on the facts, the amended claim was based on grounds of which respondent had continuing notice and which were…
1Opinion of the Court
H. J. Heinz Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
H. J. Heinz Co. v. Commissioner
Docket No. 44694
United States Tax Court
32 T.C. 22; 1959 U.S. Tax Ct. LEXIS 197;
April 10, 1959, Filed
Decision will be entered for the petitioner.
An unused excess profits credit arising in 1941 under section 713 of the Internal Revenue Code of 1939 was not specifically claimed as a carryover to 1943 on a timely section 722 claim filed for that year but was asserted on an amended claim filed after the statutory period but before final determination of the timely claim. Held, the…
2Cases cited11 opinions
- United States v. Memphis Cotton Oil Co.Supreme Court of the United States · 1933
- Barry-Wehmiller Machinery Co. v. CommissionerUnited States Tax Court · 1953
- May Seed and Nursery Company v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1957
- St. Louis Amusement Co. v. CommissionerUnited States Tax Court · 1954
- Wilmington Gasoline Corp. v. CommissionerUnited States Tax Court · 1956
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