Ohio Machine Tool Co. v. Commissioner
United States Tax Court
Held: Petitioner is entitled to relief from excess profits tax under section 721 (a) (2) (C), I. R. C., because of income received from the sale of machine tools developed through research and experiment in prior years extending over a period of more than 12 months.
1Opinion of the Court
The Ohio Machine Tool Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Ohio Machine Tool Co. v. Commissioner
Docket No. 26607
United States Tax Court
18 T.C. 330; 1952 U.S. Tax Ct. LEXIS 192;
May 20, 1952, Promulgated
Decision will be entered under Rule 50.
Held: Petitioner is entitled to relief from excess profits tax under section 721 (a) (2) (C), I. R. C., because of income received from the sale of machine tools developed through research and experiment in prior years extending over a period of more than 12 months.
Walter J. Mackey, Esq., for the petitioner.
Lester M. Ponder,…
2Cases cited9 opinions
- Geyer, Cornell & Newell, Inc. v. CommissionerUnited States Tax Court · 1946
- Soabar Co. v. CommissionerUnited States Tax Court · 1946
- Ramsey Accessories Mfg. Corp. v. CommissionerUnited States Tax Court · 1948
- Morrisdale Coal Mining Co. v. CommissionerUnited States Tax Court · 1949
- Keystone Brass Works v. CommissionerUnited States Tax Court · 1949
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