Consolidated Mfg. v. Commissioner
United States Tax Court
Company C (C), an automobile parts remanufacturer required to take inventories pursuant to sec. 471, 1Unless otherwise indicated, all section references are to the Internal Revenue Code (Code) in effect for the years at issue.
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Company C (C), an automobile parts remanufacturer required to take inventories pursuant to sec. 471, 1Unless otherwise indicated, all section references are to the Internal Revenue Code (Code) in effect for the years at issue. All Rule references are to the Tax Court Rules of Practice and Procedure. elected under sec. 472 to apply the last-in, first-out (LIFO) inventory method of accounting with respect to certain raw materials (raw materials one), labor, and overhead included in its inventories, but not with respect to certain other raw materials (raw materials two) included therein as to…
1Opinion of the Court
CONSOLIDATED MANUFACTURING, INC., M. P. LONG LIVING TRUST, MERL PHILIP LONG, TRUSTEE, TAX MATTERS PERSON, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Consolidated Mfg. v. Commissioner
Tax Ct. Dkt. No. 6176-96
United States Tax Court
111 T.C. 1; 1998 U.S. Tax Ct. LEXIS 37; 111 T.C. No. 1;
July 20, 1998, Filed
Decision will be entered for respondent.
Company C (C), an automobile parts remanufacturer required to take inventories pursuant to sec. 471, 1 elected under sec. 472 to apply the last-in, first-out (LIFO) inventory method of accounting with respect to certain raw materials (raw…
2Cases cited20 opinions
- Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
- Thor Power Tool Co. v. CommissionerSupreme Court of the United States · 1979
- Lemmen v. CommissionerUnited States Tax Court · 1981
- Kanawha Gas & Utilities Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
- Fox Chevrolet, Inc. (Maryland) v. CommissionerUnited States Tax Court · 1981
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