Santee River Hardwood Co. v. Commissioner
United States Tax Court
1. Claim for relief under section 722 (b) (4) and (b) (5) denied, where petitioner failed to establish that its base period net income was an inadequate standard of normal earnings because of allegedly unfavorable terms of a contract under which it operated until near the end of the base period. 2. Petitioner's claim for relief under section 722 (b) (5), based upon disparity between depreciation deductions in base period years and taxable year, denied.
1Opinion of the Court
Santee River Hardwood Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Santee River Hardwood Co. v. Commissioner
Docket No. 37712
United States Tax Court
26 T.C. 755; 1956 U.S. Tax Ct. LEXIS 132;
June 29, 1956, Filed
Decision will be entered for the respondent.
1. Claim for relief under section 722 (b) (4) and (b) (5) denied, where petitioner failed to establish that its base period net income was an inadequate standard of normal earnings because of allegedly unfavorable terms of a contract under which it operated until near the end of the base period.
2. Petitioner's claim for…
2Cases cited8 opinions
- Wisconsin Farmer Co. v. CommissionerUnited States Tax Court · 1950
- Granite Constr. Co. v. CommissionerUnited States Tax Court · 1952
- Clinton Carpet Co. v. CommissionerUnited States Tax Court · 1950
- Clermont Groves, Inc. v. CommissionerUnited States Tax Court · 1952
- Constitution Publishing Co. v. CommissionerUnited States Tax Court · 1954
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