Dale Distributing Co. v. Commissioner
United States Tax Court
Taxpayer filed timely applications for relief under section 722 for 1943 claiming the right to the benefits of unused excess profits credit carryovers from 1941 and 1942 based on CABPNI's.
Read the full summary
Taxpayer filed timely applications for relief under section 722 for 1943 claiming the right to the benefits of unused excess profits credit carryovers from 1941 and 1942 based on CABPNI's. The Commissioner proposed tentative CABPNI's and the taxpayer was advised by a revenue agent to file amended applications claiming the benefits of unused excess profits credit carrybacks and carryovers resulting from such CABPNI's, whereupon taxpayer filed timely amended applications and refund claims asserting its right to the benefits of unused excess profits credit carrybacks from 1944 to 1942 and from…
1Opinion of the Court
Tietjens, Judge:
The Commissioner determined a deficiency in petitioner’s income tax in the amount of $32,511.63 and an overassessment in petitioner’s excess profits tax in the amount of $32,897.62 for the fiscal year ended March 31, 1943. Certain adjustments made by the Commissioner were not contested by the petitioner. It is stipulated that the sole issue for decision is whether petitioner is entitled to an unused excess profits credit adjustment to the taxable year ended March 31, 1943, which includes to any extent an unused excess profits credit carryback from the taxable year 1944.
FINDINGS…
2Cases cited14 opinions
- United States v. Memphis Cotton Oil Co.Supreme Court of the United States · 1933
- Angelus Milling Co. v. CommissionerSupreme Court of the United States · 1945
- United States v. Garbutt Oil Co.Supreme Court of the United States · 1938
- Smale & Robinson, Inc. v. United StatesDistrict Court, S.D. California · 1954
- H. Fendrich, Inc. v. CommissionerUnited States Tax Court · 1955
9 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Dale Distributing Company, Inc. (Formerly Dale Radio Co., Inc.) v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1959
- Dale Distributing Co. v. CommissionerUnited States Tax Court · 1958