Ainsworth Mfg. Corp. v. Commissioner
United States Tax Court
Excess Profits Tax -- Relief Under Sec. 722 (b) (2) -- Depressed Business -- Temporary Economic Circumstance. -- The petitioner is entitled to relief under section 722 (b) (2) because its business was temporarily depressed as a result of the sudden discontinuance in 1937 and 1938 of the use of adjustable windshields by Ford and Chrysler and brakeshafts by Ford, the manufacture and sale of which represented the larger part of the business of the petitioner at that time.
1Opinion of the Court
opinion.
Muedock, Judge:
'The Commissioner of Internal Revenue disallowed claims of the petitioner for excess profits tax relief under section 722 (a), (b) (2), (b) (4), and (b) (5) of the Internal Revenue Code of 1939 for the taxable years 1941 through 1945.
One of the contentions of the petitioner is that its average base period net income is an inadequate standard of normal earnings within the meaning of section 722 (b) (2) because its business was depressed in the base period by the discontinuance of the use of its two principal products, brakeshafts for Ford and adjustable windshields for…
2Cases cited6 opinions
- Granite Constr. Co. v. CommissionerUnited States Tax Court · 1952
- Foskett & Bishop Co. v. CommissionerUnited States Tax Court · 1951
- Toledo Stove & Range Co. v. CommissionerUnited States Tax Court · 1951
- Clinton Carpet Co. v. CommissionerUnited States Tax Court · 1950
- Fezandie & Sperrle v. Comm'rUnited States Tax Court · 1945
1 more not listed; retrieve them via the Exa API.
3Cited by30 opinions
- Miami Valley Coated Paper Co. v. CommissionerUnited States Tax Court · 1957
- Empire Constr. Co. v. CommissionerUnited States Tax Court · 1959
- A. Finkl & Sons Co. v. CommissionerUnited States Tax Court · 1962
- Interstate Milling Co. v. CommissionerUnited States Tax Court · 1959
- Ainsworth Mfg. Corp. v. CommissionerUnited States Tax Court · 1955
25 more not listed; retrieve them via the Exa API.