MILES PRODUCTION CO. v. C.I.R.

No. 92-4284.

987 F.2d 273 (1993)

MILES PRODUCTION COMPANY, Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Fifth Circuit.

April 1, 1993.


Attorney(s) appearing for the Case

O. Jan Tyler, Boyd Veigel, McKinney, TX, for petitioner-appellant.

Mary Frances Clark, Robert S. Pomerance, Gary R. Allen, Chief, Appellate Sec., Tax Div., Dept. of Justice, Abraham N.M. Shashy, Jr., Chief Counsel, Washington, DC, for respondent-appellee.

Before GOLDBERG, JOLLY, and WIENER, Circuit Judges.


GOLDBERG, Circuit Judge:

This case comes on appeal from the United States Tax Court. Miles Production Co., the appellant, challenges the tax court's determination of the validity of the Internal Revenue Service's ("IRS") notice of deficiency regarding Miles' underpayment of the Windfall Profit Tax.

The Windfall Profit Tax and the Net Income Limitation

Before discussing the appellant's claim, it is first necessary to examine the Windfall Profit...

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