Schneider Grocery Co. v. Commissioner
United States Tax Court
A deduction claimed by and allowed to the petitioner in its 1937 return as a casualty loss from flood, held, properly disallowed by the respondent under section 711 (b) (1) (E) in determining petitioner's average base period net income for the purpose of computing excess profits tax for 1943 and 1944.
1Opinion of the Court
The Schneider Grocery Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Schneider Grocery Co. v. Commissioner
Docket No. 12823
United States Tax Court
10 T.C. 1275; 1948 U.S. Tax Ct. LEXIS 135;
June 30, 1948, Promulgated
Decision will be entered under Rule 50.
A deduction claimed by and allowed to the petitioner in its 1937 return as a casualty loss from flood, held, properly disallowed by the respondent under section 711 (b) (1) (E) in determining petitioner's average base period net income for the purpose of computing excess profits tax for 1943 and 1944.
Roger K. Powell, Esq.,…
2Cases cited1 opinion
- Schneider Grocery Co. v. CommissionerUnited States Tax Court · 1948