Southern Acid & Sulphur Co. v. Commissioner
United States Tax Court
Held, the petitioner failed to qualify for relief under section 722 (b) (2) or 722 (b) (4), I. R. C. 1939. The petitioner's industry was not temporarily depressed during the base period years. Petitioner failed to establish facts which would support a constructive average base period net income yielding an excess profits credit greater than that available without the application of section 722.
1Opinion of the Court
Southern Acid & Sulphur Company, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Southern Acid & Sulphur Co. v. Commissioner
Docket No. 27024
United States Tax Court
30 T.C. 1098; 1958 U.S. Tax Ct. LEXIS 101;
August 19, 1958, Filed
Decision will be entered for the respondent.
Held, the petitioner failed to qualify for relief under section 722 (b) (2) or 722 (b) (4), I. R. C. 1939. The petitioner's industry was not temporarily depressed during the base period years. Petitioner failed to establish facts which would support a constructive average base period net income yielding an…
2Cases cited8 opinions
- Wisconsin Farmer Co. v. CommissionerUnited States Tax Court · 1950
- Wadley Co. v. CommissionerUnited States Tax Court · 1951
- Pabst Air Conditioning Corp. v. CommissionerUnited States Tax Court · 1950
- Constitution Publishing Co. v. CommissionerUnited States Tax Court · 1954
- Miami Valley Coated Paper Co. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1954
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