Emeloid Co. v. Commissioner
United States Tax Court
1. No jurisdiction for determination of overpayment of income taxes held to exist where respondent in a deficiency notice for year 1944 determined a deficiency in excess profits tax and an overassessment in income tax.
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1. No jurisdiction for determination of overpayment of income taxes held to exist where respondent in a deficiency notice for year 1944 determined a deficiency in excess profits tax and an overassessment in income tax. Difco Laboratories, Inc., 10 T. C. 660, followed. 2. Indebtedness incurred by petitioner to purchase single premium payment life insurance policies on the lives of its two principal stockholders and officers determined incurred for reasons personal to them and not for business purposes of petitioner. Such indebtedness held not includible in petitioner's borrowed invested…
1Opinion of the Court
OPINION.
Arundell, Judge:
Before proceeding to the only issue argued by the parties, we shall dispose of petitioner’s claim of overpayment of its income tax for the fiscal year ended June 30,1944. No determination of a deficiency in income taxes has been made by respondent that would confer jurisdiction upon this Court whereby it could find an overpayment of income taxes. Since the income tax and excess profits tax are separately imposed, a determination of a deficiency in the latter will not give this Court jurisdiction of a determination of an over-assessment in the former. Difco…
2Cases cited7 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- LaBelle Iron Works v. United StatesSupreme Court of the United States · 1921
- Pioneer Parachute Co. v. CommissionerUnited States Tax Court · 1944
- West Constr. Co. v. CommissionerUnited States Tax Court · 1946
- Difco Laboratories, Inc. v. CommissionerUnited States Tax Court · 1948
2 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Faber Cement Block Co. v. CommissionerUnited States Tax Court · 1968
- Mutual Lumber Co. v. CommissionerUnited States Tax Court · 1951
- Babcock & Wilcox Co. v. Pedrick. Babcock & Wilcox Tube Co. v. PedrickCourt of Appeals for the Second Circuit · 1954
- Miami Valley Coated Paper Co. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1954
- Hunt Foods, Inc. v. CommissionerUnited States Tax Court · 1951
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