Clarksburg Publishing Co. v. Commissioner
United States Tax Court
1. Excess Profits Tax Relief, Sec. 722 (b) (4) -- Change in Character of Business -- Acquisition of Competing Newspaper. -- The petitioner's acquisition of all the property and assets of two competing newspapers in 1927, in exchange for its stock which was placed in a voting trust agreement terminating in 1940 following litigation by the stockholders, is not a base period change in the character of the business within the terms or intendment of section 722 (b) (4). 2. Excess…
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1. Excess Profits Tax Relief, Sec. 722 (b) (4) -- Change in Character of Business -- Acquisition of Competing Newspaper. -- The petitioner's acquisition of all the property and assets of two competing newspapers in 1927, in exchange for its stock which was placed in a voting trust agreement terminating in 1940 following litigation by the stockholders, is not a base period change in the character of the business within the terms or intendment of section 722 (b) (4). 2. Excess Profits Tax Relief, Sec. 722 (b) (5). -- Alleged intracorporate mismanagement, errors of judgment, and differences do…
1Opinion of the Court
Clarksburg Publishing Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Clarksburg Publishing Co. v. Commissioner
Docket No. 35382
United States Tax Court
28 T.C. 536; 1957 U.S. Tax Ct. LEXIS 169;
May 29, 1957, Filed
1. Excess Profits Tax Relief, Sec. 722 (b) (4) -- Change in Character of Business -- Acquisition of Competing Newspaper. -- The petitioner's acquisition of all the property and assets of two competing newspapers in 1927, in exchange for its stock which was placed in a voting trust agreement terminating in 1940 following litigation by the stockholders, is not a base…
2Cases cited5 opinions
- Granite Constr. Co. v. CommissionerUnited States Tax Court · 1952
- Foskett & Bishop Co. v. CommissionerUnited States Tax Court · 1951
- Pratt & Letchworth Co. v. CommissionerUnited States Tax Court · 1954
- Hearn Department Stores, Inc. v. CommissionerUnited States Tax Court · 1954
- Clarksburg Publishing Co. v. CommissionerUnited States Tax Court · 1957