Franks Mfg. Corp. v. Commissioner
United States Tax Court
Changes in the types of oil well drilling and servicing equipment manufactured by petitioner held a change in the character of the business under section 722 (b) (4), I. R. C. 1939, and a constructive average base period net income determined.
1Opinion of the Court
Franks Manufacturing Corporation, Petitioner, v. Commissioner of Internal Revenue, Respondent
Franks Mfg. Corp. v. Commissioner
Docket No. 35969
United States Tax Court
27 T.C. 507; 1956 U.S. Tax Ct. LEXIS 19;
December 12, 1956, Filed
Decision will be entered under Rule 50.
Changes in the types of oil well drilling and servicing equipment manufactured by petitioner held a change in the character of the business under section 722 (b) (4), I. R. C. 1939, and a constructive average base period net income determined.
Donald P. Moyers, Esq., and John H. Conway, Esq., for the petitioner.
Allen T. Akin,…
2Cases cited2 opinions
- Godfrey Food Co. v. CommissionerUnited States Tax Court · 1952
- Franks Mfg. Corp. v. CommissionerUnited States Tax Court · 1956