Journal-Tribune Publishing Co. v. Commissioner
United States Tax Court
Respondent concedes that petitioner qualifies for excess profits tax relief under section 722 (c) of the Internal Revenue Code (1939). Petitioner's average base period net income reconstructed for the years ending October 31, 1943 (after application of the variable credit rule), 1944, and 1945. For carry-over purposes, petitioner's constructive average base period net income determined, after application of the variable credit rule, for the 11-month period ending October 31,…
Read the full summary
Respondent concedes that petitioner qualifies for excess profits tax relief under section 722 (c) of the Internal Revenue Code (1939). Petitioner's average base period net income reconstructed for the years ending October 31, 1943 (after application of the variable credit rule), 1944, and 1945. For carry-over purposes, petitioner's constructive average base period net income determined, after application of the variable credit rule, for the 11-month period ending October 31, 1942.
1Opinion of the Court
Journal-Tribune Publishing Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Journal-Tribune Publishing Co. v. Commissioner
Docket No. 32844
United States Tax Court
24 T.C. 1048; 1955 U.S. Tax Ct. LEXIS 99;
September 23, 1955, Filed
Decision will be entered under Rule 50.
Respondent concedes that petitioner qualifies for excess profits tax relief under section 722 (c) of the Internal Revenue Code (1939). Petitioner's average base period net income reconstructed for the years ending October 31, 1943 (after application of the variable credit rule), 1944, and 1945. For carry-over…
2Cases cited2 opinions
- Danco Co. v. CommissionerUnited States Tax Court · 1952
- Journal-Tribune Publishing Co. v. CommissionerUnited States Tax Court · 1955