Feature Publications, Inc. v. Commissioner
United States Tax Court
Petitioner filed timely applications for relief under section 722, I. R. C. 1939, for its fiscal years 1943 and 1944, but no mention was made of carryover or carryback of unused excess profits tax credits from other years to either 1943 or 1944. After the statute of limitations had run, petitioner filed so-called amended applications asking for unused excess profits credit carryovers from 1941 and 1942 and carryback from 1946 based on requested section 722 determinations for…
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Petitioner filed timely applications for relief under section 722, I. R. C. 1939, for its fiscal years 1943 and 1944, but no mention was made of carryover or carryback of unused excess profits tax credits from other years to either 1943 or 1944. After the statute of limitations had run, petitioner filed so-called amended applications asking for unused excess profits credit carryovers from 1941 and 1942 and carryback from 1946 based on requested section 722 determinations for each of those years. Held, that the amended applications were barred by the statute of limitations.
1Opinion of the Court
OPINION.
HakRon, Judge:
The question is whether petitioner made timely claims for unused excess profits credits, originating in 1941,1942, and 1946, arising from the use of a constructive average base period net income for carryover and carryback purposes so that a constructive average base period net income for each of the years 1941, 1942, and 1946 may be employed for the purpose of computing the unused excess profits credit carryovers from 1941 and 1942, and the unused excess profits carryback from 1946 to 1944. The Commissioner has determined that such claim was barred by the expiration of…
2Cases cited19 opinions
- United States v. Memphis Cotton Oil Co.Supreme Court of the United States · 1933
- Angelus Milling Co. v. CommissionerSupreme Court of the United States · 1945
- United States v. Garbutt Oil Co.Supreme Court of the United States · 1938
- United States v. AndrewsSupreme Court of the United States · 1938
- Blum Folding Paper Box Co. v. CommissionerUnited States Tax Court · 1945
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3Cited by7 opinions
- Dale Distributing Co. v. CommissionerUnited States Tax Court · 1958
- Gillette Co. v. CommissionerUnited States Tax Court · 1961
- Royal Frocks, Inc. v. CommissionerUnited States Tax Court · 1958
- Dale Distributing Co. v. CommissionerUnited States Tax Court · 1958
- Feature Publications, Inc. v. CommissionerUnited States Tax Court · 1957
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