Suburban Transp. System v. Commissioner
United States Tax Court
1. Petitioner, a public carrier engaged in the transportation of passengers by motor bus, held, not entitled to relief (1) under sec. 722 (b) (4), I. R. C., because of the establishment in November, 1939, of a new bus route to supplement one of its several existing routes, or (2) under sec. 722 (b) (5), I. R. C., because of an alleged loss of $ 667.12 resulting from the operation of the new route for the period November 13 to December 31, 1939, or (3) under sec. 722 (b) (4)…
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1. Petitioner, a public carrier engaged in the transportation of passengers by motor bus, held, not entitled to relief (1) under sec. 722 (b) (4), I. R. C., because of the establishment in November, 1939, of a new bus route to supplement one of its several existing routes, or (2) under sec. 722 (b) (5), I. R. C., because of an alleged loss of $ 667.12 resulting from the operation of the new route for the period November 13 to December 31, 1939, or (3) under sec. 722 (b) (4) because of the gradual replacement during the base period years 1936 and 1937, and prior years, of a number of its old…
1Opinion of the Court
OPINION.
LeMire, Judge:
The petitioner qualifies as a corporation entitled to have its excess profits credit computed under section 713, Internal Eevenue Code, on the basis of its average base period net income, having been in existence during all of the base period years 1936 to 1939, inclusive. It contends, however, that the computation of its excess profits tax by use of its excess profits credit based on income without the benefit of section 722 results in an excessive and discriminatory tax. It undertakes to establish what would be a fair and just amount representing normal earnings to be…
2Cases cited1 opinion
- East Texas Motor Freight Lines v. CommissionerUnited States Tax Court · 1946
3Cited by27 opinions
- Neilsen Lithographing Co. v. CommissionerUnited States Tax Court · 1952
- Brown Paper Mill Co. v. CommissionerUnited States Tax Court · 1954
- Charis Corp. v. CommissionerUnited States Tax Court · 1954
- Wentworth Military, Scientific & Literary Educational Co. v. CommissionerUnited States Tax Court · 1954
- A. Finkl & Sons Co. v. CommissionerUnited States Tax Court · 1962
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