Atlas Foundry Co. v. Commissioner
United States Tax Court
Petitioner, an Indiana corporation, seeks relief from excess profits taxes under section 722 (b) (1), (b) (4), and (b) ( 5) of the Internal Revenue Code of 1939, as amended. Held, petitioner failed to establish facts which would support a constructive average base period net income yielding an excess profits credit greater than that available without the application of section 722.
1Opinion of the Court
OPINION.
Van Fossan, Judge:
Petitioner brings claims for relief under section 722 (b) (1), (b) (4), and (b) (5) of the Internal Eevenue Code of 1939, as amended.2
We find it unnecessary in this case to decide whether or not there are present qualifying factors under section 722 (b) (1), (4), or (5), and the petitioner does not claim relief under section 722 (b) (2). No decision on these points need be made because petitioner lias not established a constructive average base period net income which would entitle it to relief greater than that already available to it. Thus, although petitioner had…
2Cases cited5 opinions
- Homer Laughlin China Co. v. CommissionerUnited States Tax Court · 1946
- Stimson Mill Co. v. CommissionerUnited States Tax Court · 1946
- Stimson Mill Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1947
- D. L. Auld Co. v. CommissionerUnited States Tax Court · 1952
- Powell-Hackney Grocery Co. v. CommissionerUnited States Tax Court · 1952
3Cited by4 opinions
- Natatorium Laundry Co. v. CommissionerUnited States Tax Court · 1959
- Simplicity Mfg. Co. v. CommissionerUnited States Tax Court · 1960
- Atlas Foundry Co. v. CommissionerUnited States Tax Court · 1958
- Natatorium Laundry Co. v. CommissionerUnited States Tax Court · 1959