Parks-Chambers, Inc. v. Commissioner
United States Board of Tax Appeals
1. Where a corporation had no accounting period which ended on last day of month, it had no fiscal year within meaning of section 48(b) of the Revenue Acts of 1934 and 1936, and is required by terms of section 41 of same revenue acts to compute its income on the basis of a calendar year.
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1. Where a corporation had no accounting period which ended on last day of month, it had no fiscal year within meaning of section 48(b) of the Revenue Acts of 1934 and 1936, and is required by terms of section 41 of same revenue acts to compute its income on the basis of a calendar year. Held, Commissioner was authorized to reject returns filed by petitioner covering periods beginning January 26, 1935, and ending January 25, 1936, and beginning January 26, 1936, and ending January 26, 1937, and to compute petitioner's income for 1935 and 1936 upon a calendar year basis. Swift & Co. v. United…
1Opinion of the Court
PARKS-CHAMBERS, INCORPORATED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Parks-Chambers, Inc. v. Commissioner
Docket No. 101802.
United States Board of Tax Appeals
46 B.T.A. 144; 1942 BTA LEXIS 901;
January 23, 1942, Promulgated
1. Where a corporation had no accounting period which ended on last day of month, it had no fiscal year within meaning of section 48(b) of the Revenue Acts of 1934 and 1936, and is required by terms of section 41 of same revenue acts to compute its income on the basis of a calendar year. Held, Commissioner was authorized to reject returns filed by…
2Cases cited5 opinions
- Valley Lumber Co. v. CommissionerUnited States Board of Tax Appeals · 1941
- Atlantic Land Co. v. CommissionerUnited States Board of Tax Appeals · 1940
- McKee v. CommissionerUnited States Board of Tax Appeals · 1928
- Parks-Chambers, Inc. v. CommissionerUnited States Board of Tax Appeals · 1942
- Vaughan v. CommissionerUnited States Board of Tax Appeals · 1930