MIDVALE COMPANY v. COMMISSIONER

Docket No. 31121.

19 T.C. 1216 (1953)

THE MIDVALE COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated March 31, 1953.


Attorney(s) appearing for the Case

J. Marvin Haynes, Esq., for the petitioner.

George J. Le Blanc, Esq., for the respondent.


Respondent denied petitioner's applications for relief from excess profits tax amounting to $1,376,253.22, $1,844,337.93, $2,139,843.69, $2,629,904.52, and $2,627,898.61 for the calendar years 1940, 1941, 1942, 1943, and 1944, respectively, petitioner having also filed claims for refund which included such amounts. The only contested issue is whether petitioner is entitled to any relief under the provisions of Internal Revenue Code, section 722, subsections (a) and (b) (4...

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