LEONARD REFINERIES, INC. v. COMMISSIONER

Docket No. 11159.

11 T.C. 1000 (1948)

LEONARD REFINERIES, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated December 7, 1948.


Attorney(s) appearing for the Case

N. Barr Miller, Esq., for the petitioner.

Howard M. Kohn, Esq., for the respondent.


The Commissioner determined a deficiency in the income tax of petitioner for the taxable year ended March 31, 1943, in the amount of $125.51 and deficiencies in the excess profits tax of petitioner for the fiscal years ended March 31, 1943 and 1944, in the respective amounts of $1,115.97 and $14,124.15. The computation of petitioner's excess profits tax liability for the fiscal year ended March 31, 1943, involves an unused excess profits credit adjustment. As a result the...

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