H. Fendrich, Inc. v. Commissioner
United States Tax Court
Petitioner filed excess profits tax returns for 1944 and 1945 computing the taxes by the invested capital method, and at the same time filed applications for relief under section 722, Internal Revenue Code of 1939. In 1949 and while the applications were pending, petitioner filed claims for refund based upon the addition to invested capital of goodwill paid in at incorporation. Respondent disallowed the applications for relief.
Read the full summary
Petitioner filed excess profits tax returns for 1944 and 1945 computing the taxes by the invested capital method, and at the same time filed applications for relief under section 722, Internal Revenue Code of 1939. In 1949 and while the applications were pending, petitioner filed claims for refund based upon the addition to invested capital of goodwill paid in at incorporation. Respondent disallowed the applications for relief. It is stipulated that petitioner is entitled to the addition to invested capital, that the taxes were overpaid and that the correct tax is not excessive and…
1Opinion of the Court
OPINION.
Tietjens, Judge:
This proceeding now comes before us pursuant to mandate of the Court of Appeals for the Seventh Circuit.
In December 1949 the respondent disallowed petitioner’s applications under the provisions of section 722 of the Internal Eevenue Code of 1939 for relief from excessive and discriminatory excess profits taxes for the calendar years 1948,1944, and 1945. Petitioner filed a timely petition which alleged errors in (1) the disallowance of relief under section 722, (2) failure to allow carryover and carryback of unused excess profits credits for other years, and (3) failure…
2Cases cited10 opinions
- Lewis v. ReynoldsSupreme Court of the United States · 1932
- United States v. Felt & Tarrant Manufacturing Co.Supreme Court of the United States · 1931
- Rothensies v. Electric Storage Battery Co.Supreme Court of the United States · 1946
- United States v. Garbutt Oil Co.Supreme Court of the United States · 1938
- United States v. AndrewsSupreme Court of the United States · 1938
5 more not listed; retrieve them via the Exa API.
3Cited by24 opinions
- Martin Weiner Corp. v. CommissionerUnited States Tax Court · 1956
- Overland Corp. v. CommissionerUnited States Tax Court · 1960
- Commissioner of Internal Revenue v. F. W. Poe Manufacturing CompanyCourt of Appeals for the Fourth Circuit · 1957
- F. W. Poe Mfg. Co. v. CommissionerUnited States Tax Court · 1956
- Headline Publications, Inc. v. CommissionerUnited States Tax Court · 1957
19 more not listed; retrieve them via the Exa API.