Monsanto Co. v. Commissioner
United States Tax Court
Petitioner operates integrated mining-manufacturing plants for the production of elemental phosphorous. To reduce costs, petitioner uses carbon in both mining and nonmining activities. Held: The costs of carbon are to be allocated between petitioner's mining and nonmining activities. The allocation is to be based on the substituted fuel method, and the substitute fuel to be used in the allocation is coal.
1Opinion of the Court
SWIFT, Judge:
By notice of deficiency dated June 11, 1981, respondent determined deficiencies in petitioner’s Federal income tax liabilities for the years 1975 and 1976 in the total amount of $2,052,613 ($1,479,982 for 1975 and $572,631 for 1976). In its timely filed petition, petitioner disputed $1,967,757 of the total deficiencies for both years, and petitioner also claimed refunds in the total amount of $3,226,786. By amendment to its petition, petitioner made a protective claim for additional refunds in the total amount of $5,307,777. The protective refund claims made in the amended…
2Cases cited6 opinions
- Commissioner v. Portland Cement Co. of UtahSupreme Court of the United States · 1981
- Standard Lime and Cement Company (Formerly Known as the Standard Lime and Stone Company) v. The United StatesUnited States Court of Claims · 1964
- Virginia Greenstone Company, Incorporated v. United StatesCourt of Appeals for the Fourth Circuit · 1962
- United States v. Light Aggregates, Inc.Court of Appeals for the Eighth Circuit · 1965
- Solite Corporation v. United StatesCourt of Appeals for the Fourth Circuit · 1967
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Monsanto Co. v. CommissionerUnited States Tax Court · 1986