SAN MARCOS HOTEL CO. v. COMMISSIONER OF INTERNAL REV.

No. 13543.

205 F.2d 641 (1953)

SAN MARCOS HOTEL CO. v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals Ninth Circuit.

June 15, 1953.


Attorney(s) appearing for the Case

Wm. D. Morrison, San Diego, Cal., for petitioner.

Charles S. Lyon, Asst. Atty. Gen., Ellis N. Slack, Lee A. Jackson, Louise Foster, Howard Locke, Sp. Assts. to the Atty. Gen., for respondent.

Before MATHEWS and ORR, Circuit Judges, and BYRNE, District Judge.


BYRNE, District Judge.

This appeal involves the excess profits tax liability of petitioner for the year 1944. It arises under former section 718 of the Internal Revenue Code, 26 U.S.C.A. § 718, and its determination depends upon whether the "equity invested capital" of petitioner used for purposes of computing the "credit" to which petitioner is entitled in determining its excess profits tax was properly decreased by the Commissioner pursuant to section 718(b...

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