Pittsburgh Indus. Eng'g Co. v. Commissioner
United States Tax Court
In determining petitioner's income and excess-profits taxes for the taxable years 1941, 1942, 1943 and 1944, 1. Respondent erred in including in taxable income for 1941 a surplus adjustment of $4,648.28 credited on petitioner's books in December of 1942. 2. In 1943 petitioner did not realize a taxable gain from the sale of gas air shovels. 3. In 1943, 1944 and 1945, petitioner sustained certain deductible losses in the operation of a farm and from the sale of such farm in…
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In determining petitioner's income and excess-profits taxes for the taxable years 1941, 1942, 1943 and 1944, 1. Respondent erred in including in taxable income for 1941 a surplus adjustment of $4,648.28 credited on petitioner's books in December of 1942. 2. In 1943 petitioner did not realize a taxable gain from the sale of gas air shovels. 3. In 1943, 1944 and 1945, petitioner sustained certain deductible losses in the operation of a farm and from the sale of such farm in 1945. 4. For 1942 and 1943 petitioner is entitled to deductions of the respective amounts of $6,451.99 and $3,603.96 on…
1Opinion of the Court
Pittsburgh Industrial Engineering Company v. Commissioner.
Pittsburgh Indus. Eng'g Co. v. Commissioner
Docket No. 21644.
United States Tax Court
1950 Tax Ct. Memo LEXIS 8; 9 T.C.M. (CCH) 1132; T.C.M. (RIA) 50315;
December 19, 1950
In determining petitioner's income and excess-profits taxes for the taxable years 1941, 1942, 1943 and 1944,
1. Respondent erred in including in taxable income for 1941 a surplus adjustment of $4,648.28 credited on petitioner's books in December of 1942.
2. In 1943 petitioner did not realize a taxable gain from the sale of gas air shovels.
3. In 1943, 1944 and 1945,…
2Cases cited7 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Lucas v. American Code Co.Supreme Court of the United States · 1930
- Brown v. HelveringSupreme Court of the United States · 1934
- Maltine Co. v. CommissionerUnited States Tax Court · 1945
- Birch Ranch & Oil Co. v. CommissionerUnited States Tax Court · 1949
2 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Vanguard Recording Society v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1969
- Rca Communications, Inc. v. United StatesUnited States Court of Claims · 1960
- RCA Communications, Inc. v. United StatesUnited States Court of Claims · 1960
- Rca Communications, Inc. v. United StatesUnited States Court of Claims · 1960