Robert Reis & Co. v. Commissioner
United States Tax Court
Petitioner, on the accrual basis, contested excess profits taxes for 1943 and 1944. The contest terminated in 1949 and the taxes were paid in that year. Held, the petitioner was entitled to a deduction in 1949 under section 122 (d) (6), Internal Revenue Code, for excess profits taxes paid or accrued in determining the amount of a loss carry-back.
1Opinion of the Court
Robert Reis & Co., Petitioner, v. Commissioner of Internal Revenue, Respondent
Robert Reis & Co. v. Commissioner
Docket No. 36542
United States Tax Court
20 T.C. 294; 1953 U.S. Tax Ct. LEXIS 169;
May 6, 1953, Promulgated
Decision will be entered under Rule 50.
Petitioner, on the accrual basis, contested excess profits taxes for 1943 and 1944. The contest terminated in 1949 and the taxes were paid in that year. Held, the petitioner was entitled to a deduction in 1949 under section 122 (d) (6), Internal Revenue Code, for excess profits taxes paid or accrued in determining the amount of a loss…
2Cases cited8 opinions
- Security Flour Mills Co. v. CommissionerSupreme Court of the United States · 1944
- Dixie Pine Products Co. v. CommissionerSupreme Court of the United States · 1944
- Stern Bros. & Co. v. CommissionerUnited States Tax Court · 1951
- Lehigh v. R. Co. v. CommissionerUnited States Tax Court · 1949
- Chestnut Securities Co. v. United StatesUnited States Court of Claims · 1945
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