National Screw & Mfg. Co. v. Commissioner
United States Tax Court
Under the facts, petitioner held to have qualified for relief under section 722(b)(4), I.R.C. 1939, because of change in management and its CABPNI determined to be $ 465,000 for the calendar year 1940 and $ 475,000 for the fiscal years ending November 30, 1941, to November 30, 1945, inclusive.
1Opinion of the Court
The National Screw and Manufacturing Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
National Screw & Mfg. Co. v. Commissioner
Docket No. 33291
United States Tax Court
32 T.C. 490; 1959 U.S. Tax Ct. LEXIS 159;
May 29, 1959, Filed
Decision will be entered under Rule 50.
Under the facts, petitioner held to have qualified for relief under section 722(b)(4), I.R.C. 1939, because of change in management and its CABPNI determined to be $ 465,000 for the calendar year 1940 and $ 475,000 for the fiscal years ending November 30, 1941, to November 30, 1945, inclusive.
M. E. Newcomer, Esq.,…
2Cases cited3 opinions
- Charis Corp. v. CommissionerUnited States Tax Court · 1954
- Davenport Hosiery Mills, Inc. v. CommissionerUnited States Tax Court · 1957
- National Screw & Mfg. Co. v. CommissionerUnited States Tax Court · 1959