Ezo Products Co. v. Commissioner
United States Tax Court
Petitioner corporation was organized on January 1, 1956, by receiving in a tax-free exchange the assets and liabilities of a partnership. Petitioner, as had the partnership, manufactured and sold dental cushions and had inventories of finished cushions and supplies. Most of petitioner's customers paid for products billed them in 30 days.
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Petitioner corporation was organized on January 1, 1956, by receiving in a tax-free exchange the assets and liabilities of a partnership. Petitioner, as had the partnership, manufactured and sold dental cushions and had inventories of finished cushions and supplies. Most of petitioner's customers paid for products billed them in 30 days. The partnership had filed its returns of income on the cash receipts and disbursements basis and upon examination respondent had not changed the partnership's accounting basis. Petitioner filed its returns for 1956 and subsequent years on the cash receipts…
1Opinion of the Court
Ezo Products Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Ezo Products Co. v. Commissioner
Docket No. 85436
United States Tax Court
37 T.C. 385; 1961 U.S. Tax Ct. LEXIS 21;
November 30, 1961, Filed
Decision will be entered for the respondent.
Petitioner corporation was organized on January 1, 1956, by receiving in a tax-free exchange the assets and liabilities of a partnership. Petitioner, as had the partnership, manufactured and sold dental cushions and had inventories of finished cushions and supplies. Most of petitioner's customers paid for products billed them in 30 days.…
2Cases cited18 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Moline Properties, Inc. v. CommissionerSupreme Court of the United States · 1943
- Caldwell v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. CaldwellCourt of Appeals for the Second Circuit · 1953
- Commissioner of Internal Revenue v. SansomeCourt of Appeals for the Second Circuit · 1932
- Ezo Products Co. v. CommissionerUnited States Tax Court · 1961
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