Electric Materials Co. v. Commissioner
United States Tax Court
Excess Profits Tax (Korean War) -- Adjustment for Abnormality -- Abandonment -- Consequence of Change in Manner of Operation of Business. -- Abandonment deduction in base period year 1946 denied disallowance for computation of excess profits credit for taxable years because abandonment was a consequence of change in the manner of operation of the business. I. R. C. 1939, sec. 433 (b) (10).
1Opinion of the Court
The Electric Materials Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Electric Materials Co. v. Commissioner
Docket No. 54922
United States Tax Court
26 T.C. 997; 1956 U.S. Tax Ct. LEXIS 103;
August 31, 1956, Filed
Decision will be entered for the respondent.
Excess Profits Tax (Korean War) -- Adjustment for Abnormality -- Abandonment -- Consequence of Change in Manner of Operation of Business. -- Abandonment deduction in base period year 1946 denied disallowance for computation of excess profits credit for taxable years because abandonment was a consequence of change in the…
2Cases cited4 opinions
- William Leveen Corp. v. CommissionerUnited States Tax Court · 1944
- Gulf States Utilities Co. v. CommissionerUnited States Tax Court · 1951
- Fulton Foundry & Machine Co. v. CommissionerUnited States Tax Court · 1956
- Electric Materials Co. v. CommissionerUnited States Tax Court · 1956