Mutual Chem. Co. v. Commissioner
United States Board of Tax Appeals
1. That portion of petitioner's inventory of raw materials on hand at December 31, 1918, required to fill firm sales contracts for finished goods on that date must be priced at cost in determining net income for that period. 2. Petitioner is entitled to have its taxes computed under the provisions of sections 210 and 328 of the Revenue Acts of 1917 and 1918, respectively.
1Opinion of the Court
MUTUAL CHEMICAL COMPANY OF AMERICA, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Mutual Chem. Co. v. Commissioner
Docket No. 10083.
United States Board of Tax Appeals
12 B.T.A. 578; 1928 BTA LEXIS 3512;
June 13, 1928, Promulgated
1. That portion of petitioner's inventory of raw materials on hand at December 31, 1918, required to fill firm sales contracts for finished goods on that date must be priced at cost in determining net income for that period.
2. Petitioner is entitled to have its taxes computed under the provisions of sections 210 and 328 of the Revenue Acts of 1917 and 1918,…
2Cases cited4 opinions
- Viscose Co. v. CommissionerUnited States Board of Tax Appeals · 1926
- Ewing-Thomas Converting Co. v. Comm'rUnited States Board of Tax Appeals · 1924
- Mutual Chem. Co. v. CommissionerUnited States Board of Tax Appeals · 1928
- Davis & Andrews Co. v. CommissionerUnited States Board of Tax Appeals · 1925