Eckert Packing Co. v. Commissioner
United States Board of Tax Appeals
In its fiscal year ended October 31, 1935, petitioner accrued $46,622.72 as Federal processing tax under the Agricultural Adjustment Act, which it never paid to the collector of internal revenue. The processing tax was held invalid on January 6, 1936 (United States v. Butler,297 U.S. 1), and shortly thereafter the amount of processing tax in question was abated by the collector of internal revenue.
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In its fiscal year ended October 31, 1935, petitioner accrued $46,622.72 as Federal processing tax under the Agricultural Adjustment Act, which it never paid to the collector of internal revenue. The processing tax was held invalid on January 6, 1936 (United States v. Butler,297 U.S. 1), and shortly thereafter the amount of processing tax in question was abated by the collector of internal revenue. Held, that respondent correctly disallowed the deduction of the amount of processing tax in question on petitioner's corporation income and excess profits tax return for its fiscal year ended…
1Opinion of the Court
*1002OPINION.
Haseon:
The basic question is whether, on its corporation income and excess profits tax return for its fiscal year ended October 31, 1935, petitioner is entitled to deduct $46,622.72 in Federal processing tax which it accrued in the taxable year but never paid to the collector of internal revenue, and which was abated by the collector of internal revenue shortly after the tax was held invalid on January 6, 1936 (United States v. Butler, supra).
On its corporation income and excess profits tax return for the fiscal year ended October 31, 1935, petitioner included in its cost *1003of…
2Cases cited2 opinions
- Lewis v. ReynoldsSupreme Court of the United States · 1932
- Illinois Terminal Co. v. United StatesUnited States Court of Claims · 1931
3Cited by3 opinions
- E. B. Elliott Co. v. CommissionerUnited States Board of Tax Appeals · 1941
- Eckert Packing Co. v. CommissionerUnited States Board of Tax Appeals · 1940
- Godfrey v. CommissionerUnited States Tax Court · 1943