Gillette Co. v. Commissioner
United States Tax Court
Held, in determining the amount of unused excess profits credit, based upon CABPNI, from the year 1941 available as a carryover to the year 1943, petitioner is entitled to use of CABPNI for the year 1942 in computing the amount of its adjusted excess profits net income for 1942 against which the unused credit from 1941 must first be applied.
1Opinion of the Court
The Gillette Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Gillette Co. v. Commissioner
Docket No. 84732
United States Tax Court
37 T.C. 496; 1961 U.S. Tax Ct. LEXIS 11;
December 20, 1961, Filed
Decision will be entered under Rule 50.
Held, in determining the amount of unused excess profits credit, based upon CABPNI, from the year 1941 available as a carryover to the year 1943, petitioner is entitled to use of CABPNI for the year 1942 in computing the amount of its adjusted excess profits net income for 1942 against which the unused credit from 1941 must first be applied.
Wilson…
2Cases cited12 opinions
- Angelus Milling Co. v. CommissionerSupreme Court of the United States · 1945
- Blum Folding Paper Box Co. v. CommissionerUnited States Tax Court · 1945
- Pioneer Parachute Co. v. CommissionerUnited States Tax Court · 1944
- Packer Pub. Co. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1954
- May Seed and Nursery Company v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1957
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