Wilmington Gasoline Corp. v. Commissioner
United States Tax Court
Where original timely claim for refund claimed carryback of unused excess profits credit from fiscal 1946 to fiscal 1944 based upon invested capital credit, but amended claim was filed after the date on which limitations would have expired on an original claim, the amended claim likewise claiming carryback of unused excess profits credit from and to the fiscal years referred to above, but based upon allowance of constructive average base period net income under section 722,…
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Where original timely claim for refund claimed carryback of unused excess profits credit from fiscal 1946 to fiscal 1944 based upon invested capital credit, but amended claim was filed after the date on which limitations would have expired on an original claim, the amended claim likewise claiming carryback of unused excess profits credit from and to the fiscal years referred to above, but based upon allowance of constructive average base period net income under section 722, and where the internal revenue agent in charge and the Excess Profits Tax Council were advised as to the nature of the…
1Opinion of the Court
opinion.
Fisher, Judge:
Respondent determined an overassessment of excess profits tax in the amount of $14,174.40 and a deficiency in income tax of $12,450.34 for the fiscal year ended April 30,1944.
The issue presented is whether petitioner has filed a timely and sufficient claim for unused excess profits credit based upon the use of constructive average base period net income for carryback purposes, so that constructive average base period net income may be employed in computing the amount of unused excess profits credit for its fiscal year ended April 30, 1946, for carryback purposes to its…
2Cases cited8 opinions
- United States v. Memphis Cotton Oil Co.Supreme Court of the United States · 1933
- United States v. KalesSupreme Court of the United States · 1941
- Angelus Milling Co. v. CommissionerSupreme Court of the United States · 1945
- Tucker v. AlexanderSupreme Court of the United States · 1927
- United States v. Garbutt Oil Co.Supreme Court of the United States · 1938
3 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
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- Feature Publications, Inc. v. CommissionerUnited States Tax Court · 1957
- H. J. Heinz Co. v. CommissionerUnited States Tax Court · 1959
- United States Pipe & Foundry Co. v. United StatesUnited States Court of Claims · 1957
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