Fletcher American Nat'l Bank v. Commissioner
United States Board of Tax Appeals
1. AFFILIATION - CONSOLIDATED RETURNS - REVENUE ACTS OF 1924, 1926 AND 1928. - Where no change in the parent of an affiliated group occurred in the taxable years, no right of election between the consolidated and separate basis of return accrued to petitioner because of the addition, in those years, of other companies to that group.
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1. AFFILIATION - CONSOLIDATED RETURNS - REVENUE ACTS OF 1924, 1926 AND 1928. - Where no change in the parent of an affiliated group occurred in the taxable years, no right of election between the consolidated and separate basis of return accrued to petitioner because of the addition, in those years, of other companies to that group. Export Leaf Tobacco Co. v. Commissioner, 78 Fed.(2d) 163, affirming 31 B.T.A. 28; certiorari denied, 296 U.S. 627; Huntington Beach, Inc.,30 B.T.A. 731, followed. 2. Id. - Under the provisions of the Revenue Acts of 1924, 1926 and 1928, the right of election, to…
1Opinion of the Court
*457OPINION.
Leech :
This controversy apparently presents no original question. Since there was no change in the parent of the affiliated group during the pending tax years, no right of election accrued to petitioners because of the addition, in those years, of other companies to that group. Export Leaf Tobacco Co. v. Commissioner, 78 Fed. (2d) 163, affirming 31 B. T. A. 28; certiorari denied, 296 U. S. 627; Huntington Beach, Inc., 30 B. T. A. 731.
The rule appears to be established beyond question that under the provisions of the Revenue Acts of 1924, 1926 and 1928 the right of election, to file a…
2Cases cited1 opinion
- Rock Island, Arkansas & Louisiana Railroad v. United StatesSupreme Court of the United States · 1920
3Cited by3 opinions
- Biggers v. CommissionerUnited States Board of Tax Appeals · 1939
- Fletcher American Nat'l Bank v. CommissionerUnited States Board of Tax Appeals · 1935
- Lawyers' Bldg. Corp. v. CommissionerUnited States Board of Tax Appeals · 1937