Hearn Dep't Stores, Inc. v. Commissioner
United States Tax Court
On the record it is held that petitioner has failed to establish that it is entitled to constructive average base period net income which is large enough to produce a credit greater than any of the invested capital credits used by the petitioner for the taxable years herein, or that the excess profits taxes paid by it for the years in issue are excessive and discriminatory.
1Opinion of the Court
Hearn Department Stores, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Hearn Dep't Stores, Inc. v. Commissioner
Docket Nos. 25376, 29640
United States Tax Court
23 T.C. 266; 1954 U.S. Tax Ct. LEXIS 41;
November 19, 1954, Filed
Decision will be entered for the respondent.
On the record it is held that petitioner has failed to establish that it is entitled to constructive average base period net income which is large enough to produce a credit greater than any of the invested capital credits used by the petitioner for the taxable years herein, or that the excess profits taxes paid…
2Cases cited7 opinions
- Lamar Creamery Co. v. CommissionerUnited States Tax Court · 1947
- Granite Constr. Co. v. CommissionerUnited States Tax Court · 1952
- National Grinding Wheel Co. v. CommissionerUnited States Tax Court · 1947
- Foskett & Bishop Co. v. CommissionerUnited States Tax Court · 1951
- Wadley Co. v. CommissionerUnited States Tax Court · 1951
2 more not listed; retrieve them via the Exa API.