Legal Opinion
Consolidated Goldacres Co. v. Commissioner
Court of Appeals for the Tenth Circuit
Decided December 12, 1947No. 3511PublishedCited by 16 opinions
1Opinion of the Court
MURRAH, Circuit Judge.
By the Second Revenue Act of 1940, § 201, Sec. 710 et seq. Internal Revenue Code, 26 U.S.C.A.Int.Rev.Code, § 710 et seq., Congress imposed a graduated tax upon excess corporate profits as therein defined. Section 712 provided for an excess profits credit against such income, to be computed under Sections 713 or 714. The credit computed under Section 714 was based on average invested capital, including borrowed invested capital defined in Section 719(a) (1), (b) as 50 per cent of the average daily “outstanding indebtedness (not including interest) of the taxpayer which is…
2Cases cited19 opinions
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Crane v. CommissionerSupreme Court of the United States · 1947
- Dobson v. CommissionerSupreme Court of the United States · 1944
- Old Colony Railroad v. CommissionerSupreme Court of the United States · 1932
- Lyeth v. HoeySupreme Court of the United States · 1938
14 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Bernard Realty Co. v. United StatesCourt of Appeals for the Seventh Circuit · 1951
- CL Downey Co. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1949
- Jacob Sincoff, Inc. v. CommissionerUnited States Tax Court · 1953
- Canister Co. v. CommissionerCourt of Appeals for the Third Circuit · 1948
- Hunt Foods, Inc. v. CommissionerUnited States Tax Court · 1951
11 more not listed; retrieve them via the Exa API.