Consumers Power Co. v. Commissioner
United States Tax Court
Held, for purposes of sec. 821(b)(3) of the Tax Reform Act of 1986, Pub. L. 99-514, 100 Stat. 2085, 2373, petitioner's method of accruing utility income qualifies as a "metersread" method of accounting. Held, further, petitioner's pumped storage hydroelectric plant was not placed in service in 1972.
1Opinion of the Court
SWIFT, Judge:
In these ponsolidated cases, respondent determined deficiencies in petitioners’ Federal income tax liabilities as follows:
Docket No. 997-81
Petitioner.- Consumers Power Co.
Year Deficiency
1968 . $4,477,005.67
1969 . 10,985.94
1970 . 362,292.50
1971 . 8,988,165.07
1972 . 991,768.02
Docket No. 1002-81
PETITIONER: CONSUMERS POWER CO. AND SUBSIDIARIES
Year Deficiency
1973 . $1,829,691.88
1974 . 5,300,982.94
Docket No. 1005-81
PETITIONER: MICHIGAN GAS STORAGE CO.
Year Deficiency
1970 . $289.19
1972 . 4,007.76
After concessions, the issues for decision are: (1) Whether petitioner Consumers Power Co.…
2Cases cited14 opinions
- Miller v. RobertsonSupreme Court of the United States · 1924
- Stanley Works v. CommissionerUnited States Tax Court · 1986
- Sears Oil Co., Inc., on Review v. Commissioner of Internal Revenue, on ReviewCourt of Appeals for the Second Circuit · 1966
- Bay State Gas Co. v. CommissionerUnited States Tax Court · 1980
- Madison Newspapers, Inc. v. CommissionerUnited States Tax Court · 1967
9 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- Sealy Power, Ltd. v. CommissionerCourt of Appeals for the Fifth Circuit · 1995
- Armstrong World Industries, Inc., and Affiliated Companies v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1992
- Northern States Power Company, Cross-Appellant/appellee v. United States of America, Appellant/cross-AppelleeCourt of Appeals for the Eighth Circuit · 1998
- Green Gas Del. Statutory Trust v. Comm'rUnited States Tax Court · 2016
- Oglethorpe Power Corp. v. CommissionerUnited States Tax Court · 1990
18 more not listed; retrieve them via the Exa API.