The respondent determined deficiencies in income tax and excess profits tax against the petitioner for 1939 in the respective amounts of $32,941.94 and $12,743.50. The issues are (1) whether the petitioner is entitled to accrue and deduct for the calendar year 1939 the additional capital stock tax, or defense tax, imposed by section 205 of the Revenue Act of 1940 for the capital stock tax year ended June 30, 1940; and (2) whether the respondent erred in including in taxable...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
