White v. Roden Elec. Supply Co., Inc.

OPINION

FONES, Justice.

The issue presented here is whether ap-pellee taxpayer forfeits an otherwise valid tax credit under T.C.A. § 67-5814 because of a delinquent filing of its business tax return.

We affirm the Chancellor’s decision that the tax credit is not forfeited and was improperly denied by the taxing authority.

On February 14, 1975, appellee filed its business tax return for the taxable year ending November 30, 1974. Appellee claimed a personal property tax credit pursuant to T.C.A. § 67-5814 which authorized the credit to be taken through November 30, 1974, by taxpayers in appellee’s…