Green River Distilling Co. v. Commissioner
United States Board of Tax Appeals
1. The Green River Distilling Co., having an accounting period ended on June 30, became affiliated with another corporation on February 28, 1918. Held that the return filed for the eight-month period prior to affiliation is a return for a fractional part of a year, and that the Commissioner did not err in determining a deficiency for such short period. 2. The return being one for a period of less than a year, respondent's computation of invested capital and allowance of…
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1. The Green River Distilling Co., having an accounting period ended on June 30, became affiliated with another corporation on February 28, 1918. Held that the return filed for the eight-month period prior to affiliation is a return for a fractional part of a year, and that the Commissioner did not err in determining a deficiency for such short period. 2. The return being one for a period of less than a year, respondent's computation of invested capital and allowance of excess-profits and war-profits credits on the basis of a short period, sustained. 3. Respondent's adjustment of petitioners'…
1Opinion of the Court
*397OPINION.
ARundell:
We are confronted at the threshold of our consideration by the Distilling Company’s objection that the deficiency is void in that it is a deficiency for a period less than one year, viz., for the eight-month period from July 1, 1917, to February 28, 1918. In order that petitioner’s position may more clearly appear, it is well to recite the pertinent facts and the argument outlining its objection to respondent’s determination.
Prior to July 1, 1917, the Distilling Company kept its books, and presumably returned its income, on the basis of a fiscal year ending June 30. On…
2Cases cited1 opinion
- Bankers' Trust Co. v. BowersCourt of Appeals for the Second Circuit · 1923
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- Continental Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1936
- Gould-Mersereau Co. v. CommissionerUnited States Board of Tax Appeals · 1931
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