Danco Co. v. Commissioner
United States Tax Court
Excess Profits Tax -- Relief Under Section 722 (c) -- Constructive Average Base Period Net Income. -- Amount of constructive average base period net income determined.
1Opinion of the Court
OPINION.
Aeundell, Judge:
In the opinion reported at 14 T. C. 276, we concluded that the evidence was insufficient for a determination of an amount of normal earnings under the provisions of section 722 (a). At the second hearing, the parties filed a stipulation of facts which was devoted largely to showing the similarity of the operations of the petitioner to those of some of its competitors. Each party placed in evidence tables and statistics as to the financial results of the operations of the petitioner and of its competitors.
The petitioner has proposed three methods of reconstruction. The…
2Cases cited1 opinion
- Danco Co. v. CommissionerUnited States Tax Court · 1950
3Cited by24 opinions
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- Hemenway-Johnson Furniture Co. v. CommissionerUnited States Tax Court · 1954
- Jackson-Raymond Co. v. CommissionerUnited States Tax Court · 1955
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