Coca-Cola Bottling Co. v. Commissioner
United States Tax Court
Unused Excess Profits Credit. -- Carry-back from 1946 to 1944, allowed corporation which, on January 1, 1944, sold its principal assets to a partnership but took no steps to dissolve and continued to operate a portion of its business through 1944, 1945, and 1946.
1Opinion of the Court
SUPPLEMENTAL OPINION.
Harron, Judge:
The petitioners have filed a Motion for further consideration of these proceedings which has been granted.
After promulgation of the Court’s report in these proceedings, 17 T. C. 101, the parties ascertained that because of the provisions of section 223 of the Revenue Act of 1950, amending section 502 of the Code, by enactment of new subsection (f), the Sacramento Corporation’s income for 1946 was less than 80 per cent personal holding company income, section 501 (a) of the Code. Section 502 (f) is retroactive in its effect. It was enacted after the briefs in…
2Cases cited5 opinions
- Weir Long Leaf Lumber Co. v. CommissionerUnited States Tax Court · 1947
- Wier Long Leaf Lumber Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1949
- Mesaba-Cliffs Min. Co. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1949
- Mesaba-Cliffs Mining Co. v. CommissionerUnited States Tax Court · 1948
- Whitney Mfg. Co. v. CommissionerUnited States Tax Court · 1950
3Cited by5 opinions
- Montgomery Coca-Cola Bottling Co. v. United StatesUnited States Court of Claims · 1980
- Wheeler Insulated Wire Co. v. CommissionerUnited States Tax Court · 1954
- H. A. Brody Corp. v. United StatesDistrict Court, S.D. Iowa · 1961
- Coca-Cola Bottling Co. v. CommissionerUnited States Tax Court · 1952
- Wheeler Insulated Wire Co. v. CommissionerUnited States Tax Court · 1954