Austin Co. v. Commissioner
United States Tax Court
Held, the excess profits tax computed without the benefit of section 722, Internal Revenue Code, has not been shown to result in an excessive and discriminatory tax because of the qualifying factors found in section 722 (b), Internal Revenue Code.
1Opinion of the Court
OPINION.
Van Fossan, Judge:
The petitioner seeks relief from excess profits taxes for the years 1940 and 1941 under the provisions of section 722 of the Internal Revenue Code.
To achieve its objective, the taxpayer must establish that the excess profits tax computed without the benefit of section 722, Internal Revenue Code, is excessive and discriminatory and it must further establish a fair and just amount representing normal earnings to be used as a constructive average base period net income. The petitioner initially relies upon the provisions of subsection 722 (b) (3) (A), which sets forth…
2Cases cited6 opinions
- Wisconsin Farmer Co. v. CommissionerUnited States Tax Court · 1950
- Avey Drilling Machine Co. v. CommissionerUnited States Tax Court · 1951
- Granite Constr. Co. v. CommissionerUnited States Tax Court · 1952
- Pabst Air Conditioning Corp. v. CommissionerUnited States Tax Court · 1950
- A. B. Frank Co. v. CommissionerUnited States Tax Court · 1952
1 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Ainsworth Mfg. Corp. v. CommissionerUnited States Tax Court · 1954
- Orangeburg Mfg. Co. v. CommissionerUnited States Tax Court · 1961
- Schenley Industries, Inc. v. CommissionerUnited States Tax Court · 1964
- Santee River Hardwood Co. v. CommissionerUnited States Tax Court · 1956
- Austin Co. v. CommissionerUnited States Tax Court · 1954
4 more not listed; retrieve them via the Exa API.