Fain Drilling Co. v. Commissioner
United States Tax Court
1. Jurisdiction -- Refund Claim -- Excess Profits Tax -- Section 732. -- Disallowance of a claim for refund under 713 (f) gives the Court jurisdiction where the disallowance relates to the application of section 711 (b) (1) (I) and (K), relating to abnormalities. 2. Excess Profits Tax -- Sections 713 (f) and 711 (b) (1) (I). -- The provisions of 711 (b) (1) (I) may not be used to deny the benefits of 713 (f) as applied without considering 711 (b) (1 (I), regardless of which…
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1. Jurisdiction -- Refund Claim -- Excess Profits Tax -- Section 732. -- Disallowance of a claim for refund under 713 (f) gives the Court jurisdiction where the disallowance relates to the application of section 711 (b) (1) (I) and (K), relating to abnormalities. 2. Excess Profits Tax -- Sections 713 (f) and 711 (b) (1) (I). -- The provisions of 711 (b) (1) (I) may not be used to deny the benefits of 713 (f) as applied without considering 711 (b) (1 (I), regardless of which party first referred to 711 (b) (1) (I). Colson Corporation, 5 T. C. 1035 followed.
1Opinion of the Court
Fain Drilling Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Fain Drilling Co. v. Commissioner
Docket No. 9720
United States Tax Court
8 T.C. 1174; 1947 U.S. Tax Ct. LEXIS 184;
June 13, 1947, Promulgated
Decision will be entered under Rule 50.
1. Jurisdiction -- Refund Claim -- Excess Profits Tax -- Section 732. -- Disallowance of a claim for refund under 713 (f) gives the Court jurisdiction where the disallowance relates to the application of section 711 (b) (1) (I) and (K), relating to abnormalities.
2. Excess Profits Tax -- Sections 713 (f) and 711 (b) (1) (I). -- The…
Also in this document: Dissent.
2Cases cited2 opinions
- Colson Corp. v. CommissionerUnited States Tax Court · 1945
- Fain Drilling Co. v. CommissionerUnited States Tax Court · 1947