Quaker Oats Co. v. Commissioner

OPINION.

Harron, Judge:

The questions to be decided involve application of the provisions of section 711 (b) (1) (J), 1939 Code.3 Petitioner made payments in its base period years for various retirement benefits. The problem is the classification of these payments under the provisions of section 711 (b) (1) (J), so that adjustments of petitioner’s excess profits net income for each of the base period years may be properly computed.

Section 711 (b) (1) (J) was intended to be, and is, a remedial statute. The legislation of which this section is a part “attempts to provide, both by specific terms…