St. Louis Amusement Co. v. Commissioner
United States Tax Court
After the expiration of the statutory period for the filing of a claim for refund for the fiscal year ended August 31, 1942, petitioner filed an amended claim for refund of excess profits tax paid for that year based upon a carry-over of an unused excess profits credit from the fiscal year ending August 31, 1941, computed upon the determination of a constructive average base period net income under section 722 for the earlier year.
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After the expiration of the statutory period for the filing of a claim for refund for the fiscal year ended August 31, 1942, petitioner filed an amended claim for refund of excess profits tax paid for that year based upon a carry-over of an unused excess profits credit from the fiscal year ending August 31, 1941, computed upon the determination of a constructive average base period net income under section 722 for the earlier year. Prior to the filing of such amended claim, petitioner had made no claim for a carry-over based upon the determination of constructive average base period net…
1Opinion of the Court
OPINION.
Fishek, Judge:
All of the facts are stipulated and are incorporated herein by reference.
On March 8, 1943, petitioner filed its excess profits tax return for the taxable year ended August 31, 1942. On its return, petitioner claimed an unused excess profits credit carry-over from the taxable year ended August 31,1941, but the claim was not based upon a constructive average base period net income. The stipulation of facts includes a determination of petitioner’s correct excess profits net income for the taxable year ended August 31, 1941, together with its correct excess profits credit…
2Cases cited1 opinion
- Barry-Wehmiller Machinery Co. v. CommissionerUnited States Tax Court · 1953
3Cited by18 opinions
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- Headline Publications, Inc. v. CommissionerUnited States Tax Court · 1957
- Feature Publications, Inc. v. CommissionerUnited States Tax Court · 1957
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