Davenport Hosiery Mills, Inc. v. Commissioner
United States Tax Court
Petitioner is held to have made a change in the character of its business under section 722 (b) (4), I. R. C. 1939, by reason of a difference in the products (hosiery) furnished, a difference in the capacity for production or operation both installed during the base period and consummated during 1940 as a result of a commitment therefor prior to January 1, 1940, and to have established under section 722 (a) a constructive average base period net income to be used in lieu of…
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Petitioner is held to have made a change in the character of its business under section 722 (b) (4), I. R. C. 1939, by reason of a difference in the products (hosiery) furnished, a difference in the capacity for production or operation both installed during the base period and consummated during 1940 as a result of a commitment therefor prior to January 1, 1940, and to have established under section 722 (a) a constructive average base period net income to be used in lieu of its average base period net income determined under section 713 (f), 1939 Code.
1Opinion of the Court
Arundell, Judge:
Respondent, in accordance with the provisions of section 732 of the Internal Revenue Code of 1939, gave notice of the disallowance of claims for refund (Form 991) of excess profits taxes asserted in petitioner’s applications for relief under section 722 of the 1939 Code for the taxable (calendar) years 1940 to 1945, inclusive, and of the related claim (Form 843) for the year 1942.
The parties have stipulated that the claim for 1944 was not timely filed and is barred by the statute of limitations.
The only issue is whether petitioner is entitled to relief under section 722 (a)…
2Cases cited5 opinions
- 7-Up Ft. Worth Co. v. CommissionerUnited States Tax Court · 1947
- Triangle Raincoat Co. v. CommissionerUnited States Tax Court · 1952
- A B C Brewing Corp. v. CommissionerUnited States Tax Court · 1953
- Bergstrom Paper Co. v. CommissionerUnited States Tax Court · 1956
- Charis Corp. v. CommissionerUnited States Tax Court · 1954
3Cited by12 opinions
- Peter J. Schweitzer, Inc. v. CommissionerUnited States Tax Court · 1958
- Duke Power Co. v. CommissionerUnited States Tax Court · 1967
- National Screw & Mfg. Co. v. CommissionerUnited States Tax Court · 1959
- Schenley Industries, Inc. v. CommissionerUnited States Tax Court · 1964
- Liberty Fabrics of New York, Inc. v. CommissionerUnited States Tax Court · 1957
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