Union Bus Terminal, Inc. v. Commissioner
United States Tax Court
Held, petitioner corporation did not dissolve during the taxable year and hence is not required to place its excess profits net income for such year on an annual basis as required by section 711 (a) (3) of the Internal Revenue Code. United States v. Kingman, 170 Fed. (2d) 408.
1Opinion of the Court
OPINION.
Hill, Judge:
The sole question before us is whether petitioner’s excess profits net income should be computed on the basis of a short taxable year beginning May 1, 1943, and ending July 31, 1943, in accordance with section 711 (a) (3) (A) of the Internal Eevenue Code, as respondent contends, or whether such income should be computed on the basis of petitioner’s full fiscal year ending April 30, 1944, as petitioner contends. The question we have here was, we think, correctly decided by, the United States Court of Appeals for the Fifth Circuit in United States v. Kingman, 170 Fed. (2d)…
2Cases cited1 opinion
- Kamin Chevrolet Co. v. CommissionerUnited States Tax Court · 1944
3Cited by21 opinions
- Joseph Weidenhoff, Inc. v. CommissionerUnited States Tax Court · 1959
- A B C Brewing Corporation (Formerly Aztec Brewing Co.), a Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- Winter & Co. v. CommissionerUnited States Tax Court · 1949
- James P. Neill v. Robert L. Phinney, District Director of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Roeser & Pendleton, Inc. v. CommissionerUnited States Tax Court · 1950
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