B. B. Bathing Park, Inc. v. Commissioner
United States Board of Tax Appeals
1. Where a corporation during its taxable year 1922 becomes affiliated with two other corporations, held that separate returns for each of the corporations or a consolidated return for all of the corporations may be filed and that the basis so used will not constitute an election of basis binding for subsequent years. 2. Where three corporations were affiliated throughout the taxable year 1923, separate returns for each of the corporations, or a consolidated return for the…
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1. Where a corporation during its taxable year 1922 becomes affiliated with two other corporations, held that separate returns for each of the corporations or a consolidated return for all of the corporations may be filed and that the basis so used will not constitute an election of basis binding for subsequent years. 2. Where three corporations were affiliated throughout the taxable year 1923, separate returns for each of the corporations, or a consolidated return for the three corporations, may be filed. 3. Held, that where one corporation of an affiliated group filed a separate return for…
1Opinion of the Court
*749OPINION.
TeaMMell :
The petitioner contends that the filing of separate returns by Joseph P. Day, Inc., the parent corporation, was in error; that the filing of such returns did not constitute an election on the part of the corporations to file separate returns, and that the three corporations should now be allowed to file an amended return on the consolidated basis.
Section 240 of the Revenue Act of 1921 provides as follows:(a) That corporations which are affiliated within the meaning of this section may, for any taxable year beginning on or after January 1, 1922, make separate returns, or…
2Cited by4 opinions
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