Cambria Collieries Co. v. Commissioner
United States Tax Court
Net Operating Loss Deduction -- Carry-Back -- Law Applicable to Deductions for Loss Year. -- Deductions in computing a net operating loss are determined under the law applicable to the loss year rather than the law applicable to the year for which a net operating loss deduction is allowed.
1Opinion of the Court
The Cambria Collieries Co., Petitioner, v. Commissioner of Internal Revenue, Respondent
Cambria Collieries Co. v. Commissioner
Docket No. 13829
United States Tax Court
10 T.C. 1172; 1948 U.S. Tax Ct. LEXIS 147;
June 24, 1948, Promulgated
Decision will be entered under Rule 50.
Net Operating Loss Deduction -- Carry-Back -- Law Applicable to Deductions for Loss Year. -- Deductions in computing a net operating loss are determined under the law applicable to the loss year rather than the law applicable to the year for which a net operating loss deduction is allowed.
G. Charles Scharfy, Esq., for the…
2Cases cited2 opinions
- Reo Motors, Inc. v. CommissionerUnited States Tax Court · 1947
- Cambria Collieries Co. v. CommissionerUnited States Tax Court · 1948