Continental Baking Corp. v. Helvering

VAN ORSDEL, Associate Justice.

This appeal is from a decision, of the Board of Tax Appeals involving income taxes for the calendar year 1929, amounting to $5,393.08.

It appears that the taxpayer, Continental Baking Corporation, filed its capital stock tax return in July, 1925, with the collector of internal revenue at Chicago, Ill., which covered the taxable period ending June 30, 1926. In this return the taxpayer claimed an exemption from capital stock tax on the ground that it was not engaged in business or doing business within the meaning of the statute.

On July 12, 1928, petitioner received…