Pacific Far East Line, Inc. v. United States

This tax refund action concerning the investment tax credit provisions of the Internal Revenue Code of 1954, §§ 38, *7546-48,1 has previously been before this court. On March 19, 1975, this court granted plaintiff’s motion for partial summary judgment, holding that plaintiff’s credit should have been computed upon its entire bases in the ships, rather than upon only a ratable portion attributable to construction work done in 1962 as defendant contended. Pacific Far East Line, Inc. v. United States, 206 Ct. Cl. 378, 513 F. 2d 1355 (1975).2 We shall hereinafter refer to said March 19, 1975, opinion…