Green Spring Dairy, Inc. v. Commissioner
United States Tax Court
Petitioner, although entitled to use the excess profits credit based on income, computed its excess profits taxes on the invested capital method.
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Petitioner, although entitled to use the excess profits credit based on income, computed its excess profits taxes on the invested capital method. It sought relief under the push-back rule of section 722 (b) (4), I. R. C., by reason of the construction of a new plant in 1937. Held, petitioner was not entitled to such relief where it has failed to show that, even if the new plant had been available 2 years earlier, it would have had sufficient earnings to produce credits based upon constructive average base period net income that would be greater than the credits actually employed by it.
1Opinion of the Court
Green Spring Dairy, Incorporated, Petitioner, v. Commissioner of Internal Revenue, Respondent
Green Spring Dairy, Inc. v. Commissioner
Docket Nos. 7871, 22807
United States Tax Court
18 T.C. 217; 1952 U.S. Tax Ct. LEXIS 203;
May 9, 1952, Promulgated
Decisions will be entered for the respondent.
Petitioner, although entitled to use the excess profits credit based on income, computed its excess profits taxes on the invested capital method. It sought relief under the push-back rule of section 722 (b) (4), I. R. C., by reason of the construction of a new plant in 1937. Held, petitioner was not entitled…
2Cases cited8 opinions
- Monarch Cap Screw & Mfg. Co. v. CommissionerUnited States Tax Court · 1945
- Blum Folding Paper Box Co. v. CommissionerUnited States Tax Court · 1945
- National Grinding Wheel Co. v. CommissionerUnited States Tax Court · 1947
- Wadley Co. v. CommissionerUnited States Tax Court · 1951
- General Metalware Co. v. CommissionerUnited States Tax Court · 1951
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