Overland Corp. v. Commissioner
United States Tax Court
Petitioner, a manufacturer of automobiles, claims relief from excess profits tax under section 722(b)(2) and (b)(4), I.R.C. 1939. It also claims, in an amended petition, a refund of excess profits tax under section 721(a)(2)(C) and (a)(3) on the ground that a portion of its excess profits net income was derived from research and development in the production of the 1/4-ton military vehicle known as the jeep.
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Petitioner, a manufacturer of automobiles, claims relief from excess profits tax under section 722(b)(2) and (b)(4), I.R.C. 1939. It also claims, in an amended petition, a refund of excess profits tax under section 721(a)(2)(C) and (a)(3) on the ground that a portion of its excess profits net income was derived from research and development in the production of the 1/4-ton military vehicle known as the jeep. Held: 1. That petitioner did not file a timely claim for refund of overpayment of excess profits tax for the years in issue based upon the realization of abnormal income under section…
1Opinion of the Court
Withey, Judge:
The respondent denied petitioner’s applications for relief and claims for refund of excess profits tax under section 722(b)(1), (b)(2), (b)(3), (b)(4), and (b)(5) of the Internal Revenue Code of 1939 for the fiscal years ended September 30, 1942 to 1945, inclusive, by his notice of disallowance mailed January 26, 1950.
The issues presented for our decision are:
1. Whether petitioner filed a timely claim for refund of its excess profits tax on the ground that it realized net abnormal income within the meaning of section 721(a)(2)(C) and (a)(3) of the 1939 Code. In the event we find…
Also in this document: Dissent.
2Cases cited17 opinions
- United States v. Garbutt Oil Co.Supreme Court of the United States · 1938
- United States v. AndrewsSupreme Court of the United States · 1938
- Real Estate - Land Title & Trust Co. v. United StatesSupreme Court of the United States · 1940
- United States v. Henry Prentiss & Co.Supreme Court of the United States · 1933
- Mutual Lumber Co. v. CommissionerUnited States Tax Court · 1951
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3Cited by17 opinions
- May Broadcasting Company v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1962
- A. Finkl & Sons Co. v. CommissionerUnited States Tax Court · 1962
- The Overland Corporation (Formerly Willys-Overland Motors, Inc.) v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. The Overland Corporation (Formerly Willys-Overland Motors, Inc.)Court of Appeals for the Sixth Circuit · 1963
- Connecticut Light & Power Co. v. CommissionerUnited States Tax Court · 1963
- Dow Jones & Co. v. CommissionerUnited States Tax Court · 1963
12 more not listed; retrieve them via the Exa API.