North American Coal Corp. v. Commissioner
United States Board of Tax Appeals
1. Held, the deficiencies asserted for the years 1922 and 1923 are not barred by the statute of limitations. 2. The Board will not consider issues involving a question of fact which are raised for the first time in the brief. 3. The petitioner is liable as transferee of the assets of the A. J. Morgan Coal Co., under the provisions of section 280 of the Revenue Act of 1926, for a deficiency of that company for the year 1920. 4. Invested capital, and depletion deductions…
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1. Held, the deficiencies asserted for the years 1922 and 1923 are not barred by the statute of limitations. 2. The Board will not consider issues involving a question of fact which are raised for the first time in the brief. 3. The petitioner is liable as transferee of the assets of the A. J. Morgan Coal Co., under the provisions of section 280 of the Revenue Act of 1926, for a deficiency of that company for the year 1920. 4. Invested capital, and depletion deductions determined. 5. Loss on sale of Taplin properties by the Morgan Co. and depreciation of Johnson River tipple, determined. 6.…
1Opinion of the Court
*831OPINION.
Marquette:
Issue (1). — On the brief, the petitioner concedes that the deficiencies in 1922 and 1923 taxes are not barred by the statute of limitations, if the respondent’s notice of March 7, 1928, fulfills all of the requirements of section 274, Revenue Act of 1926. The question of the sufficiency of that notice was decided by the Board in the order entered August 1, 1931; and the conclusions reached in the accompanying memorandum are supported by the circuit court’s decision in Burnet v. San Joaquin Fruit & Investment Co., 52 Fed. (2d) 123. Under the waivers or consent agreements the…
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