National Screw & Mfg. Co. v. Commissioner
United States Tax Court
Under the facts, petitioner held to have qualified for relief under section 722(b)(4), I.R.C. 1939, because of change in management and its CABPNI determined to be $ 465,000 for the calendar year 1940 and $ 475,000 for the fiscal years ending November 30, 1941, to November 30, 1945, inclusive.
1Opinion of the Court
FORRESTER, Judge:
By this proceeding petitioner challenges the Commissioner’s disallowance of its claims under section 722, I.B.C. 1939, for relief from excess profits tax liabilities in the following amounts for the respective fiscal periods:
Period Amount
Calendar year 1940_ $17,910.27
Jan. 1, 1941-Nov. SO, 1941_ 822, 008. 85
Dec. 1, 1941-Nov. 30, 1942_ 466, 631.28
Dec. 1, 1942-Nov. 30, 1943_ 370,105. 43
Dec. 1,1943-Nov. 30, 1944_ 1,187, 868.97
Dec. 1,1944-Nov. 30, 1945_ 483, 056.22
FINDINGS OF FACT.
Certain facts have been stipulated and are hereby so found.
Petitioner, a corporation organized under…
2Cases cited2 opinions
- Charis Corp. v. CommissionerUnited States Tax Court · 1954
- Davenport Hosiery Mills, Inc. v. CommissionerUnited States Tax Court · 1957
3Cited by3 opinions
- A. Finkl & Sons Co. v. CommissionerUnited States Tax Court · 1962
- A. Finkl & Sons Co. v. CommissionerUnited States Tax Court · 1962
- National Screw & Mfg. Co. v. CommissionerUnited States Tax Court · 1959