Old Homestead Bread Co. v. Commissioner
United States Tax Court
The taxpayer is engaged in the wholesale baking business in Denver, Colorado. Its principal product is bread of various sizes and kinds. Throughout the base period years the taxpayer was engaged in keen competition with four other large wholesale bakeries in Denver.
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The taxpayer is engaged in the wholesale baking business in Denver, Colorado. Its principal product is bread of various sizes and kinds. Throughout the base period years the taxpayer was engaged in keen competition with four other large wholesale bakeries in Denver. Beginning in the latter half of 1938 and continuing until the fall of 1939, two large chain grocery stores in Denver, which operated their own bakeries, used bread as a "loss leader" and engaged in keen competition for the retail grocery business. The independent retail grocers put pressure on the taxpayer and the other wholesale…
1Opinion of the Court
Tietjens, Judge:
Claims for excess profits tax relief under section 722 of the Internal Revenue Code of 1989, for the year 1941, the fractional year ended July 31, 1942, and the fiscal years ended July 31, 1943, 1944, 1945, and 1946, have been denied by the Commissioner. The petitioner claims relief under section 722 (b) (2) for a depression of its business due to an unusual temporary economic circumstance and under section 722 (b) (1) for an interruption in production due to a strike.
This case was heard by a commissioner of this Court. His proposed findings are adopted as our findings of fact…
2Cases cited7 opinions
- Lamar Creamery Co. v. CommissionerUnited States Tax Court · 1947
- Monarch Cap Screw & Mfg. Co. v. CommissionerUnited States Tax Court · 1945
- Harlan Bourbon & Wine Co. v. CommissionerUnited States Tax Court · 1950
- Ainsworth Mfg. Corp. v. CommissionerUnited States Tax Court · 1954
- Stimson Mill Co. v. CommissionerUnited States Tax Court · 1946
2 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Henry Glass & Co. v. CommissionerUnited States Tax Court · 1960
- Henry Glass & Co. v. CommissionerUnited States Tax Court · 1960
- Old Homestead Bread Co. v. CommissionerUnited States Tax Court · 1957