Blenheim Co. v. Commissioner
United States Board of Tax Appeals
Petitioner, a foreign personal holding company, filed a timely personal holding company tax return on Form 1120 H showing no surtax due, but filed no normal tax return on Form 1120. Respondent thereafter filed a normal tax return on Form 1120 for petitioner, pursuant to section 3176 of the Revised Statutes.
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Petitioner, a foreign personal holding company, filed a timely personal holding company tax return on Form 1120 H showing no surtax due, but filed no normal tax return on Form 1120. Respondent thereafter filed a normal tax return on Form 1120 for petitioner, pursuant to section 3176 of the Revised Statutes. Following the issuance of a notice of deficiency in both normal and surtax, petitioner lodged with respondent a document purporting to be a normal tax return on Form 1120. Held: (1) Petitioner is liable for a deficiency in normal tax under section 233 of the Revenue Act of 1934, because it…
1Opinion of the Court
*1251OPINION.
T /uranTT:
The correctness of both contested deficiencies depends upon whether petitioner has perfected its right to certain asserted deductions. New Colonial Ice Co. v. Helvering, 292 U. S. 435.
The petitioner was a foreign corporation. Section 233 of Title I of the Revenue Act of 1934, controlling here, provides:
A foreign corporation shall receive the benefit of the deductions and credits allowed to it in this title only by filing or causing to be filed with the collector a true and accurate return of its total income received from all sources in the United States, in the manner…
2Cases cited2 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Collateral Mortg. & Inv. Co. v. CommissionerUnited States Board of Tax Appeals · 1938
3Cited by21 opinions
- Brittingham v. CommissionerUnited States Tax Court · 1976
- Swallows Holding, Ltd. v. Comm'rUnited States Tax Court · 2006
- Blenheim Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1942
- Burke Concrete Accessories, Inc. v. CommissionerUnited States Tax Court · 1971
- Espinosa v. CommissionerUnited States Tax Court · 1996
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