May Broadcasting Co. v. Commissioner
United States Tax Court
Held: Petitioner did not file a timely claim for refund of overpayment of excess profits tax for 1942 based upon an increase in its equity invested capital under the period of limitations prescribed in section 322(b)(1), I.R.C. 1939. H. Fendrich, Inc., 25 T.C. 262, followed.
1Opinion of the Court
opinion.
Withey, Judge:
The respondent has determined a deficiency in petitioner’s income tax for 1942 in the amount of $226.04. The respondent’s notice of partial disallowance of petitioner’s application for relief under section 722 of the Internal Revenue Code of 1939 also discloses an overassessment in its excess profits tax liability for 1942 in the amount of $753.47.
The principal issue presented by the pleadings is the question whether petitioner filed a timely claim for refund of its excess profits tax for 1942 based upon an increase in its invested capital for that year. Additional…
2Cases cited17 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- United States v. Borden Co.Supreme Court of the United States · 1939
- Posadas v. National City BankSupreme Court of the United States · 1936
- Reinecke v. SpaldingSupreme Court of the United States · 1930
- United States v. Garbutt Oil Co.Supreme Court of the United States · 1938
12 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Overland Corp. v. CommissionerUnited States Tax Court · 1960
- May Broadcasting Company v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1962
- Connecticut Light & Power Co. v. CommissionerUnited States Tax Court · 1963
- Connecticut Light & Power Co. v. CommissionerUnited States Tax Court · 1963
- Connecticut Light & Power Co. v. CommissionerUnited States Tax Court · 1963
2 more not listed; retrieve them via the Exa API.