Orange Roller Bearing Co. v. Commissioner
United States Tax Court
Held, petitioner is entitled to no relief under section 722(b)(4) because it has failed to establish a CABPNI that would provide a larger excess profits credit than that already allowed under section 714.
1Opinion of the Court
OPINION.
Arundell, Judge:
The respondent denied petitioner’s applications for excess profits tax relief under section 722 of the Internal Revenue Code of 1939,1 and related refund claims for the taxable years ended October 31, 1941, through October 31, 1946.
Petitioner seeks relief under section 722(b) (4) upon the ground that it changed the character of its business during and immediately prior to the base period and its average base period net income does not reflect the normal operation of its business for the entire base period. Petitioner alleges that an increased level of earnings resulted…
2Cases cited2 opinions
- Farmers Creamery Co. v. CommissionerUnited States Tax Court · 1952
- Green Lumber Co. v. CommissionerUnited States Tax Court · 1959
3Cited by2 opinions
- Simplicity Mfg. Co. v. CommissionerUnited States Tax Court · 1960
- Orange Roller Bearing Co. v. CommissionerUnited States Tax Court · 1960