Erving Paper Mills Corp. v. Commissioner
United States Tax Court
P commenced construction of a "paper processing machine" prior to Apr. 19, 1969. Such property generally qualified for the investment credit under sec. 46(c), I.R.C. 1954. Held, property, the construction of which commenced by the taxpayer prior to Apr. 19, 1969, is not subject to sec. 49(a), I.R.C. 1954, which "turned off" the investment credit for property constructed or acquired after such date, and such property is eligible for the credit without regard to sec. 49(b),…
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P commenced construction of a "paper processing machine" prior to Apr. 19, 1969. Such property generally qualified for the investment credit under sec. 46(c), I.R.C. 1954. Held, property, the construction of which commenced by the taxpayer prior to Apr. 19, 1969, is not subject to sec. 49(a), I.R.C. 1954, which "turned off" the investment credit for property constructed or acquired after such date, and such property is eligible for the credit without regard to sec. 49(b), relating to pre-termination property.
1Opinion of the Court
Erving Paper Mills Corporation, Petitioner v. Commissioner of Internal Revenue, Respondent
Erving Paper Mills Corp. v. Commissioner
Docket No. 1768-77
United States Tax Court
72 T.C. 319; 1979 U.S. Tax Ct. LEXIS 119;
May 14, 1979, Filed
P commenced construction of a "paper processing machine" prior to Apr. 19, 1969. Such property generally qualified for the investment credit under sec. 46(c), I.R.C. 1954. Held, property, the construction of which commenced by the taxpayer prior to Apr. 19, 1969, is not subject to sec. 49(a), I.R.C. 1954, which "turned off" the investment credit for property…
2Cases cited7 opinions
- Walt Disney Productions v. United StatesCourt of Appeals for the Ninth Circuit · 1977
- Chi-Mil Corp. v. W. T. Grant Co.District Court, E.D. Wisconsin · 1976
- Sunbury Textile Mills, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1978
- Sartori v. CommissionerUnited States Tax Court · 1976
- Chi-Mil Corp. v. W. T. Grant Co.District Court, E.D. Wisconsin · 1976
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