Mid-Southern Foundation v. Commissioner of Internal Revenue

SHACKELFORD MILLER, Jr., Circuit Judge.

The petitioner seeks a review of the decision of the Tax Court which held that the petitioner was liable for deficiencies in income taxes for the calendar years 1950 and 1951, and for the period January 1 to June 10, 1952, under the *135provisions of the Excess Profits Tax Act of 1950 (Korean War Excess Profits Tax Act), Sections 430 to 472, Internal Revenue Code of 1939, 26 U.S.C.A. Excess Profits Taxes, §§ 430-472.

The facts, which were mostly stipulated, are set out in the findings of fact and opinion of the Tax Court, reported at 28 T.C. 918 to which…