General Retail Corp. v. Commissioner
United States Tax Court
Corporation organized after 1945 but which acquired all its assets from parent corporation in business since 1925, held, to have commenced business prior to 1945 for excess profits tax purposes under section 430 (e), I. R. C. 1939, Excess Profits Tax Act of 1950, so as to be barred from preferential tax rate as a new corporation.
1Opinion of the Court
General Retail Corporation (Delaware), Petitioner, v. Commissioner of Internal Revenue, Respondent
General Retail Corp. v. Commissioner
Docket No. 55272
United States Tax Court
29 T.C. 632; 1957 U.S. Tax Ct. LEXIS 3;
December 31, 1957, Filed
Decision will be entered for the respondent.
Corporation organized after 1945 but which acquired all its assets from parent corporation in business since 1925, held, to have commenced business prior to 1945 for excess profits tax purposes under section 430 (e), I. R. C. 1939, Excess Profits Tax Act of 1950, so as to be barred from preferential tax rate as a new…
2Cases cited1 opinion
- General Retail Corp. v. CommissionerUnited States Tax Court · 1957