Carborundum Co. v. Commissioner
United States Tax Court
Petitioner elected, under art. XIII of the United States-United Kingdom Income Tax Convention, to treat the British standard tax appropriate to the dividends received by it from two wholly owned United Kingdom subsidiaries as having been paid by it. On its returns for 1961 and 1962, petitioner reported the amount of such tax plus the amounts actually received as dividend income, i.e., "grossed up" the amount of such tax.
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Petitioner elected, under art. XIII of the United States-United Kingdom Income Tax Convention, to treat the British standard tax appropriate to the dividends received by it from two wholly owned United Kingdom subsidiaries as having been paid by it. On its returns for 1961 and 1962, petitioner reported the amount of such tax plus the amounts actually received as dividend income, i.e., "grossed up" the amount of such tax. In computing its credit, under sec. 902(a), I.R.C. 1954, for its share of the United Kingdom profits tax imposed upon the subsidiaries, petitioner used such "grossed-up"…
1Opinion of the Court
Carborundum Company, a Delaware Corporation, Petitioner v. Commissioner of Internal Revenue, Respondent
Carborundum Co. v. Commissioner
Docket No. 7779-70
United States Tax Court
58 T.C. 909; 1972 U.S. Tax Ct. LEXIS 67;
August 28, 1972, Filed
Decision will be entered under Rule 50.
Petitioner elected, under art. XIII of the United States-United Kingdom Income Tax Convention, to treat the British standard tax appropriate to the dividends received by it from two wholly owned United Kingdom subsidiaries as having been paid by it. On its returns for 1961 and 1962, petitioner reported the amount of such…
2Cases cited12 opinions
- Biddle v. CommissionerSupreme Court of the United States · 1938
- United States v. New YorkSupreme Court of the United States · 1942
- American Chicle Co. v. United StatesSupreme Court of the United States · 1942
- National Carbon Co. v. CommissionerUnited States Tax Court · 1943
- Wisconsin Gas & Electric Co. v. United StatesSupreme Court of the United States · 1944
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