Norfolk & Chesapeake Coal Co. v. Commissioner

OPINION.

Tietjens, Judge:

The petitioner has the burden of proving that its excess profits tax is excessive and discriminatory, and to establish what would be a fair and just amount representing normal earnings. Its tax is deemed excessive and discriminatory for purposes of section 722 of the Internal Revenue Code if its average base period net income is shown to have been an inadequate standard of normal earnings for one or more of the reasons stated in section 722 (b). Petitioner relies upon section 722 (a) and subparagraphs (2) and (5) of section 722 (b).1

Petitioner is a member of the…