The Commissioner determined deficiencies of $1,619,074.50 and $2,114,622.33 in the petitioner's excess profits tax for 1941 and 1942. The petitioner assigns as error the failure of the Commissioner to disallow the following abnormal deductions for 1939 in computing the petitioner's excess profits credit based upon income under section 713:
(a) $668,067.70 representing the portion of refunds made in 1939 on excessive gas rates collected in 1936.
(b) $206,616...
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.
