Clermont Groves, Inc. v. Commissioner
United States Tax Court
Excess Profits Tax -- Qualification for Relief Under Code Section 722 (b) (4) and (b) (5). -- The petitioner acquired citrus trees in 1932 which in the excess profits tax years had a fruit bearing capacity greater than they had in the base period years.
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Excess Profits Tax -- Qualification for Relief Under Code Section 722 (b) (4) and (b) (5). -- The petitioner acquired citrus trees in 1932 which in the excess profits tax years had a fruit bearing capacity greater than they had in the base period years. Held, that the increased capacity was not the consummation of a course of action to which the petitioner was committed and did not constitute a change in the character of the business so as to entitle it to relief under Internal Revenue Code section 722 (b) (4). Held, further, that such increase in capacity did not constitute any other factor…
1Opinion of the Court
OPINION.
Akundell, Judge:
The claims in this proceeding are for relief from excess profits tax for the fiscal years ended May 31, 1941, 1943, and 1944. Fiscal years ended May 31,1942,1945, and 1946 are also involved because of various claimed unused constructive excess profits credit carry-overs and carry-backs.
The principal ground upon which relief is claimed is that by its acquisition of a citrus grove in 1932 it was committed to a course of action which was consummated in the excess profits tax years and which, with continued ownership and care of the trees, constituted a difference in the…
2Cases cited6 opinions
- Monarch Cap Screw & Mfg. Co. v. CommissionerUnited States Tax Court · 1945
- Wisconsin Farmer Co. v. CommissionerUnited States Tax Court · 1950
- Avey Drilling Machine Co. v. CommissionerUnited States Tax Court · 1951
- Stonhard Co. v. CommissionerUnited States Tax Court · 1949
- Ray Campbell, Wise & Wright, Inc. v. CommissionerUnited States Tax Court · 1950
1 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- Farmers Creamery Co. v. CommissionerUnited States Tax Court · 1952
- Constitution Publishing Co. v. CommissionerUnited States Tax Court · 1954
- Napco Industries, Inc. v. CommissionerUnited States Tax Court · 1958
- Yellow Cab Co. v. CommissionerUnited States Tax Court · 1961
- Crane Co. of Minnesota v. CommissionerUnited States Tax Court · 1956
18 more not listed; retrieve them via the Exa API.