Davey Co. v. Commissioner
United States Tax Court
Held, petitioner Aurora Paperboard Company constitutes a "new corporation" within the meaning of section 445, I.R.C. 1939, and is entitled to compute its separate average base period net income under the provisions of that section.
1Opinion of the Court
opinion.
Withey, Judge:
The respondent determined deficiencies in the petitioners’ consolidated income tax for the years and in the amounts as follows:
Year Amount
1950_ $10,065.83
1951_ 11, 820. 60
1952_ 18, 232. 72
The sole issue presented for our decision is the correctness of the respondent’s action in determining that the portion of the consolidated average base period net income attributable to petitioner Aurora Paperboard Company may not be computed under the provisions of section 445 of the Internal Revenue Code of 1939. In the event we determine that Aurora Paperboard Company is not…
2Cases cited5 opinions
- American Bantam Car Co. v. CommissionerUnited States Tax Court · 1948
- Holstein v. CommissionerUnited States Tax Court · 1955
- Eaton v. CommissionerUnited States Board of Tax Appeals · 1938
- Madison Newspapers, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1958
- Madison Newspapers, Inc. v. CommissionerUnited States Tax Court · 1956
3Cited by2 opinions
- Stribling Brothers Machinery Co. v. United StatesDistrict Court, S.D. Mississippi · 1964
- Davey Co. v. CommissionerUnited States Tax Court · 1959