General Metalware Co. v. Commissioner
United States Tax Court
Held, petitioner is not entitled to relief under section 722 (b) (4), Internal Revenue Code, not having shown that it changed the character of its business during the base period by reason of a difference in the capacity for operation, as claimed, and not having established "what would be a fair and just amount representing normal earnings to be used as a constructive average base period net income," as required by section 722 (a) of the Code.
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Held, petitioner is not entitled to relief under section 722 (b) (4), Internal Revenue Code, not having shown that it changed the character of its business during the base period by reason of a difference in the capacity for operation, as claimed, and not having established "what would be a fair and just amount representing normal earnings to be used as a constructive average base period net income," as required by section 722 (a) of the Code. Held, further, on the same grounds, petitioner is not entitled to relief under section 722 (b) (5) of the Code.
1Opinion of the Court
OPINION.
JohNson, Judge:
Petitioner claimed relief under each of the subsections of section 722 (b) of the Internal Eevenue Code. Respondent completely rejected such claims. Petitioner now concedes the non-applicability of subsections (b) (1), (b) (2) and (b) (3) and claims relief solely under subsections (b) (4) or (b) (5) of section 722. Section 722 (b) (4) provides, in so far as material here, that the excess profits tax imposed “shall be considered to be excessive and discriminatory in the case of a taxpayer entitled to use the excess profits credit based on income pursuant to section 713,…
2Cases cited4 opinions
- Lamar Creamery Co. v. CommissionerUnited States Tax Court · 1947
- Wisconsin Farmer Co. v. CommissionerUnited States Tax Court · 1950
- Ray Campbell, Wise & Wright, Inc. v. CommissionerUnited States Tax Court · 1950
- Monarch Mfg. Co. v. CommissionerUnited States Tax Court · 1950
3Cited by29 opinions
- Granite Constr. Co. v. CommissionerUnited States Tax Court · 1952
- Farmers Creamery Co. v. CommissionerUnited States Tax Court · 1952
- Mitchell & Co. v. CommissionerUnited States Tax Court · 1953
- Pittsburgh & Weirton Bus Co. v. CommissionerUnited States Tax Court · 1954
- Austin Co. v. CommissionerUnited States Tax Court · 1954
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