J. E. Barron Plastics, Inc. v. Commissioner
United States Tax Court
Petitioner purchased a plastics injection molding machine which was picked up by a contractor from the manufacturer pursuant to petitioner's instructions on Dec. 29, 1961, and delivered by the contractor to petitioner's business premises subsequent to Dec. 31, 1961. Held, petitioner is not entitled to an investment credit under secs. 38 and 48(b)(2), I.R.C. 1954.
1Opinion of the Court
TanNENWAld, Judge:
Respondent determined a deficiency in petitioner’s income tax for its fiscal year ended June 30, 1962, in the amount of $1,896.13.
The sole issue for our determination is whether petitioner “acquired” a plastics injection molding machine after December 31,1961, so as to be entitled to an investment credit under section 38.1 It is conceded that petitioner is otherwise entitled to the credit in the amount of $1,954.77.
FINDINGS OF FACT
Some of the facts have been stipulated and are found accordingly.
The petitioner is an Ohio corporation with its principal place of business at 100…
2Cases cited1 opinion
- Madison Newspapers, Inc. v. CommissionerUnited States Tax Court · 1967
3Cited by6 opinions
- Catron v. CommissionerUnited States Tax Court · 1968
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- Ft. Howard Paper Co. v. CommissionerUnited States Tax Court · 1977
- Catron v. CommissionerUnited States Tax Court · 1968
- J. E. Barron Plastics, Inc. v. CommissionerUnited States Tax Court · 1967
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