A. Teichert & Son, Inc. v. Commissioner
United States Tax Court
Excess Profits Tax -- Carry-Back of Unused Excess Profits Credit. -- The provisions of Code section 710 (b) (3) providing for the deduction of unused excess profits credits in the determination of adjusted excess profits net income are mandatory and do not give an election as to the application of an available carry-back of an unused credit.
1Opinion of the Court
OPINION.
Arundell, Judge :
The respondent determined a deficiency in the petitioner’s income tas for the calendar year 1942 in the amount of $13,~ 331.09, and an overassessment of excess profits tax in the amount of $2,715.27 for that year. In making his determination the respondent took into account an unused excess profits credit for the calendar year 1944 in the amount of $35,661.50. The petitioner alleges that such carry-back of a credit was error on the part of the respondent.
The facts have been stipulated, and are found as stipulated.
The petitioner is a California corporation, and filed…
2Cases cited4 opinions
- Caminetti v. United StatesSupreme Court of the United States · 1917
- Colson Corp. v. CommissionerUnited States Tax Court · 1945
- Fain Drilling Co. v. CommissionerUnited States Tax Court · 1947
- Mullaly v. CommissionerUnited States Tax Court · 1945
3Cited by11 opinions
- Lone Manor Farms, Inc. v. CommissionerUnited States Tax Court · 1974
- Barry-Wehmiller Machinery Co. v. CommissionerUnited States Tax Court · 1953
- Eleanor M. Ballard v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1988
- Feature Publications, Inc. v. CommissionerUnited States Tax Court · 1957
- Estate of La Sala v. CommissionerUnited States Tax Court · 1979
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