J. M. Turner & Co. v. Commissioner
United States Tax Court
Held, on the basis of the facts presented, that petitioner is neither an "acquiring corporation" nor a "purchasing corporation," within the meaning of sections 461 (a) and 474 (a), respectively, of the Internal Revenue Code (1939); and, hence, that it is not entitled to use the base period experience of a certain proprietorship, in computing its excess profits credit for the year 1951.
1Opinion of the Court
J. M. Turner and Company, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
J. M. Turner & Co. v. Commissioner
Docket No. 51719
United States Tax Court
26 T.C. 795; 1956 U.S. Tax Ct. LEXIS 137;
June 29, 1956, Filed
Decision will be entered under Rule 50.
Held, on the basis of the facts presented, that petitioner is neither an "acquiring corporation" nor a "purchasing corporation," within the meaning of sections 461 (a) and 474 (a), respectively, of the Internal Revenue Code (1939); and, hence, that it is not entitled to use the base period experience of a certain proprietorship, in…
2Cases cited4 opinions
- Halliburton v. CommissionerCourt of Appeals for the Ninth Circuit · 1935
- E. T. Renfro Drug Co. v. CommissionerUnited States Tax Court · 1948
- Hawaiian Freight Forwarders, Ltd. v. CommissionerUnited States Tax Court · 1950
- J. M. Turner & Co. v. CommissionerUnited States Tax Court · 1956