Legal Opinion
Commissioner of Internal Revenue v. Superior Yarn Mills, Inc.
Court of Appeals for the Fourth Circuit
Decided December 21, 1955No. 7058PublishedCited by 8 opinions
1Opinion of the Court
BRYAN, District Judge.
On its petition for a redetermination of deficiency assessments of income and excess profits taxes for 1944, 1945 and 1946, Superior Yarn Mills, Inc. has been allowed by the Tax Court to increase from $243,592 to $316,670 — an added $73,078 — the sum originally allocated by the taxpayer as the cost basis of the depreciable items of the plant it purchased in 1929 for $500,000. In framing an order to effectuate the Tax Court’s conclusion, under its Rule 50, 26 U.S.C. § 7453, the Commissioner of Internal Revenue insisted that for use in 1944 the new cost base must be…
2Cases cited6 opinions
- Bankers Pocahontas Coal Co. v. BurnetSupreme Court of the United States · 1932
- Commissioner of Int. Rev. v. Cleveland Adolph MR Corp.Court of Appeals for the Sixth Circuit · 1947
- Perkins v. ThomasCourt of Appeals for the Fifth Circuit · 1936
- Commissioner of Int. Rev. v. Mutual Fertilizer Co.Court of Appeals for the Fifth Circuit · 1947
- Blackhawk-Perry Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1950
1 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Paccar, Inc. And Subsidiaries v. Commissioner Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1988
- Home Group v. CommissionerUnited States Tax Court · 1988
- Welsh Homes, Incorporated, and v. Commissioner of Internal Revenue, AndCourt of Appeals for the Fourth Circuit · 1960
- A. Glendon Johnson, Administrator, C.T.A., Estate of A. Gales Johnson v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1962
- Commissioner of Internal Revenue v. Superior Yarn Mills, Inc.Court of Appeals for the Fourth Circuit · 1955
3 more not listed; retrieve them via the Exa API.