Napco Industries, Inc. v. Commissioner
United States Tax Court
Held, the petitioner failed to qualify for relief under section 722 (b) (4). The petitioner's business was not commenced immediately prior to the base period, nor was there a change in the character of the business during the base period. ABC Brewing Corp., 20 T. C. 515 (1953), followed.
1Opinion of the Court
Napco Industries, Inc., (Successor to Terre Haute Brewing Co., Inc., by Statutory Merger), Petitioner, v. Commissioner of Internal Revenue, Respondent
Napco Industries, Inc. v. Commissioner
Docket No. 39066
United States Tax Court
30 T.C. 198; 1958 U.S. Tax Ct. LEXIS 199;
May 9, 1958, Filed
Decision will be entered for the respondent.
Held, the petitioner failed to qualify for relief under section 722 (b) (4). The petitioner's business was not commenced immediately prior to the base period, nor was there a change in the character of the business during the base period. ABC Brewing Corp., 20 T. C.…
2Cases cited2 opinions
- A B C Brewing Corp. v. CommissionerUnited States Tax Court · 1953
- Napco Industries, Inc. v. CommissionerUnited States Tax Court · 1958