Hydro Molding Co. v. Commissioner
United States Tax Court
Accrual basis corporation is not entitled to a deduction for contribution to a profit-sharing trust fund for the calendar year 1957 where payment thereto was not made prior to the time prescribed by law for filing its income tax return for that year and no extension of time for filing the return was sought or obtained.
1Opinion of the Court
Hydro Molding Company, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Hydro Molding Co. v. Commissioner
Docket No. 83975
United States Tax Court
38 T.C. 312; 1962 U.S. Tax Ct. LEXIS 129;
May 28, 1962, Filed
Decision will be entered for the respondent.
Accrual basis corporation is not entitled to a deduction for contribution to a profit-sharing trust fund for the calendar year 1957 where payment thereto was not made prior to the time prescribed by law for filing its income tax return for that year and no extension of time for filing the return was sought or obtained.
Eugene J.…
2Cases cited4 opinions
- Sachs v. Commissioner of Internal Revenue. Slaymaker Lock Co. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1953
- Radom & Neidorff, Inc. v. United StatesUnited States Court of Claims · 1960
- Campbell Chain Co. v. CommissionerUnited States Tax Court · 1951
- Hydro Molding Co. v. CommissionerUnited States Tax Court · 1962