Atlas Oil & Refining Corp. v. Commissioner
United States Tax Court
Petitioner's books of account having been closed and balances carried forward at the end of each calendar year, held deficiencies determined on a fiscal year basis were incorrect, notwithstanding that petitioner reported its income for the years involved on the basis of a fiscal year ended November 30. Helvering v. Brooklyn City R. Co. (C. A. 2), 72 F. 2d 274, followed.
1Opinion of the Court
OPINION.
Opper, Judge:
The simple conclusion would ordinarily be inescapable that under section 41, Internal Revenue Code,1 petitioner was required to file its tax returns on the basis upon which its books of account were actually maintained. Helvering v. Brooklyn City R. Co. (C. A. 2), 72 F. 2d 274; Great West Printing Co. v. Commissioner (C. A. 8), 60 F. 2d 749; Estate of Cyrus H. K. Curtis, 36 B. T. A. 899; James H. Silcox, 12 B. T. A. 748. The present situation is complicated by the fact that petitioner actually filed its returns for the periods in controversy on the basis of a fiscal year…
2Cases cited3 opinions
- Helvering v. Brooklyn City R. Co.Court of Appeals for the Second Circuit · 1934
- Kansas City Southern Ry. Co. v. Commissioner of Int. Rev.Court of Appeals for the Eighth Circuit · 1931
- Great West Printing Co. v. CommissionerCourt of Appeals for the Eighth Circuit · 1932
3Cited by8 opinions
- Century Data Sys. ex rel. California Computer Prods. v. CommissionerUnited States Tax Court · 1986
- Century Data Systems, Inc. v. CommissionerUnited States Tax Court · 1983
- Miles Production Co. v. CommissionerUnited States Tax Court · 1991
- Atlas Oil & Refining Corp. v. CommissionerUnited States Tax Court · 1951
- Century Data Sys. ex rel. California Computer Prods. v. CommissionerUnited States Tax Court · 1986
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