Legal Opinion
Cleveland Graphite Bronze Co. v. Commissioner
United States Tax Court
Decided May 27, 1948No. Docket No. 9030PublishedCited by 10 opinions
1Opinion of the Court
OPINION.
Van Fossan, Judge:
The first question presented is tlie amount of “daily capital addition” to be used in the computation of excess profits credit pursuant to section 713.
In computing its excess profits credit under that section, a taxpayer is entitled to include an amount equal to (A) 95 per centum of its average base period net income, plus (B) an additional amount equal to 8 per centum of the “net capital addition” as defined in subsection (g), or minus (C) 6 per centum of the “net capital reduction” as defined jn subsection (g). The “daily capital addition” which enters into the…
2Cases cited5 opinions
- Waterman v. MacKenzieSupreme Court of the United States · 1891
- United States v. General Electric Co.Supreme Court of the United States · 1926
- Myers v. Comm'rUnited States Tax Court · 1946
- Wisconsin Gas & Electric Co. v. United StatesSupreme Court of the United States · 1944
- American Business Credit Corp. v. CommissionerUnited States Tax Court · 1947
3Cited by10 opinions
- Kronner v. United StatesUnited States Court of Claims · 1953
- E. I. Du Pont De Nemours and Company v. United StatesUnited States Court of Claims · 1961
- Rollman v. CommissionerCourt of Appeals for the Fourth Circuit · 1957
- Dairy Queen of Oklahoma, Inc., Dissolved v. Commissioner of Internal Revenue, L. H. Nehring, Trustee v. Commissioner of Internal Revenue, Priscilla Nehring, Trustee v. Commissioner of Internal Revenue, L. E. Copelin, Trustee v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1957
- Dairy Queen of Oklahoma, Inc. v. CommissionerCourt of Appeals for the Tenth Circuit · 1957
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