Broomall Terrace, Inc. v. Commonwealth

Opinion by

President Judge Bowman,

This is an appeal from an order of the Board of Finance and Revenue which denied appellant taxpayer’s petition for refund as being “res judicata and because it fails to comply with the provisions of Section 503(a) of the Fiscal Code of 1929.”

It is before us de novo but on stipulated facts which we hereby adopt and which stipulation discloses the following relevant factual and procedural matrix. The capital stock tax of petitioner, Broomall Terrace, Inc., for the tax year ending December 31, 1973 was originally settled as returned at a nominal valuation of…