Wolverine Petroleum Corp. v. Commissioner
United States Board of Tax Appeals
The petitioner and other corporations affiliated with it changed their accounting period from a fiscal to a calendar year and filed a consolidated return for the last eight months of 1923. The respondent determined that the affiliation ceased August 31, 1923, on account of which he computed the tax liability of the affiliated group for the first four months on the basis of a consolidated return and the tax liability of the petitioner for the last four months on the basis of…
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The petitioner and other corporations affiliated with it changed their accounting period from a fiscal to a calendar year and filed a consolidated return for the last eight months of 1923. The respondent determined that the affiliation ceased August 31, 1923, on account of which he computed the tax liability of the affiliated group for the first four months on the basis of a consolidated return and the tax liability of the petitioner for the last four months on the basis of a separate return. Thereafter a closing agreement was entered into with the affiliated group for the period May 1, 1923,…
1Opinion of the Court
WOLVERINE PETROLEUM CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Wolverine Petroleum Corp. v. Commissioner
Docket No. 52348.
United States Board of Tax Appeals
29 B.T.A. 1236; 1934 BTA LEXIS 1402;
February 27, 1934, Promulgated
The petitioner and other corporations affiliated with it changed their accounting period from a fiscal to a calendar year and filed a consolidated return for the last eight months of 1923. The respondent determined that the affiliation ceased August 31, 1923, on account of which he computed the tax liability of the affiliated group for the first…
2Cases cited5 opinions
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