Spermacet Whaling & Shipping Co. v. Commissioner
United States Tax Court
Upon the entire record, it is held that petitioner, during the taxable year ended April 30, 1948, was not a "resident * * * foreign corporation engaged in trade or business within the United States" as that phrase is used in section 231 (b) of the Internal Revenue Code of 1939, as amended, and that it is therefore not taxable as provided in sections 14 (c) (1) and 15 of the 1939 Code.
1Opinion of the Court
Akundell, Judge:
Respondent determined a deficiency in income tax for the taxable year ended April 30, 1948, in the amount of $351,492.29, all of which is in controversy. The issues to be decided are:(1) Was petitioner, during the taxable year, a “resident * * * foreign corporation engaged in trade or business within the United States” as that phrase is used in section 231 (b), I. R. C. 1939, as amended?(2) Did petitioner, during the taxable year, derive “gross income from sources within the United States” as that phrase is used in section 231 (c), I. R. C.1939?(3) In the event issues (1) and…
2Cases cited8 opinions
- Higgins v. CommissionerSupreme Court of the United States · 1941
- Helvering v. Minnesota Tea Co.Supreme Court of the United States · 1935
- Chisholm v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1935
- Lewenhaupt v. CommissionerUnited States Tax Court · 1953
- Linen Thread Co. v. CommissionerUnited States Tax Court · 1950
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3Cited by3 opinions
- Commissioner of Internal Revenue v. Spermacet Whaling & Shipping Co., S/ACourt of Appeals for the Sixth Circuit · 1960
- Commissioner of Internal Revenue v. Spermacet Whaling & Shipping Co., S/ACourt of Appeals for the Sixth Circuit · 1960
- Spermacet Whaling & Shipping Co. v. CommissionerUnited States Tax Court · 1958