Ciba Pharmaceutical Products, Inc. v. Commissioner
United States Tax Court
1. Held, petitioner is not entitled to excess profits tax relief under section 722(b)(4), I.R.C. 1939, in excess of that allowed by the respondent. 2. Held, further, petitioner is precluded by section 143(f), I.R.C. 1939, from claiming an overpayment of taxes actually withheld from the 1944 royalty payments made by it to its foreign parent. 3. Held, further, this Court does not have jurisdiction over petitioner's alleged overpayment of taxes withheld from the 1945 royalty…
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1. Held, petitioner is not entitled to excess profits tax relief under section 722(b)(4), I.R.C. 1939, in excess of that allowed by the respondent. 2. Held, further, petitioner is precluded by section 143(f), I.R.C. 1939, from claiming an overpayment of taxes actually withheld from the 1944 royalty payments made by it to its foreign parent. 3. Held, further, this Court does not have jurisdiction over petitioner's alleged overpayment of taxes withheld from the 1945 royalty payments made by it to its foreign parent, since respondent did not determine any deficiency in petitioner's income tax…
1Opinion of the Court
Mulronet, Judge:
The respondent disallowed in part the petitioner’s applications for excess profits tax relief under section 722 of the Internal Revenue Code of 1939 1 for the years 1940 through 1944 and disallowed in full the petitioner’s application for relief mider section 722 for the year 1945. Respondent allowed the petitioner a constructive average base period net income of $295,000 for the year 1940 and $400,400 for the years 1941 through 1945. In his notice of deficiency and of disallowance (under sections 272 and 732), the respondent accordingly determined overassessments of excess…
2Cases cited19 opinions
- Avey Drilling Machine Co. v. CommissionerUnited States Tax Court · 1951
- Mutual Lumber Co. v. CommissionerUnited States Tax Court · 1951
- Dial v. CommissionerUnited States Tax Court · 1955
- Homer Laughlin China Co. v. CommissionerUnited States Tax Court · 1946
- Surface Combustion Corp. v. CommissionerUnited States Tax Court · 1947
14 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- S-K Liquidating Co. v. CommissionerUnited States Tax Court · 1975
- Connecticut Light & Power Co. v. CommissionerUnited States Tax Court · 1963
- Ciba Pharmaceutical Products, Inc. v. CommissionerUnited States Tax Court · 1960
- Connecticut Light & Power Co. v. CommissionerUnited States Tax Court · 1963
- Connecticut Light & Power Co. v. CommissionerUnited States Tax Court · 1963
2 more not listed; retrieve them via the Exa API.