Goodwyn Crockery Co. v. Commissioner
United States Tax Court
Held, petitioner corporation is entitled to deduction for claimed net operating loss carryovers for the taxable years 1956, 1957, and 1958. Sections 382 and 269, I.R.C. 1954, do not apply. Held, further, amounts deducted for amortization of the cost of a 1955 management survey were correctly disallowed.
1Opinion of the Court
Goodwyn Crockery Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Goodwyn Crockery Co. v. Commissioner
Docket No. 86194
United States Tax Court
37 T.C. 355; 1961 U.S. Tax Ct. LEXIS 22;
November 29, 1961, Filed
Decision will be entered under Rule 50.
Held, petitioner corporation is entitled to deduction for claimed net operating loss carryovers for the taxable years 1956, 1957, and 1958. Sections 382 and 269, I.R.C. 1954, do not apply. Held, further, amounts deducted for amortization of the cost of a 1955 management survey were correctly disallowed.
Ernest Woodward II, Esq., for…
Also in this document: Dissent.
2Cases cited4 opinions
- Shainberg v. CommissionerUnited States Tax Court · 1959
- Goodwyn Crockery Co. v. CommissionerUnited States Tax Court · 1961
- Baton Rouge Supply Co. v. CommissionerUnited States Tax Court · 1961
- Schlosser Bros., Inc. v. CommissionerUnited States Board of Tax Appeals · 1925