Doyle Equipment Co. v. Commonwealth

Opinion by

Judge Smith,

Doyle Equipment Company (Petitioner) appeals from a decision of the Board of Finance and Revenue (Board) which sustained the Department of. Revenues assessment of Petitioners 1984 capital stock tax under Section 601(a) of the Tax Reform Code of 1971 (Code).1 The issue raised in this appeal concerns interpretation of the term “average net income” as defined under Section 601(a) of the Code. We affirm the decision of the Board.

Counsel for Petitioner and Respondent filed their Stipulation of Facts setting forth the,procedural and factual background of this case which this…