BUDD COMPANY v. COMMISSIONER

Docket No. 79626.

33 T.C. 813 (1960)

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

United States Tax Court.

Filed February 5, 1960.


Attorney(s) appearing for the Case

Frederick E. S. Morrison, Esq., for the petitioner.

John W. Holt, Esq., for the respondent.


OPINION.

MURDOCK, Judge:

The petitioner has moved for judgment on the pleadings. The parties agree that all facts essential to a decision are pleaded and admitted. Such facts are adopted as the findings of fact, for that purpose.

The petitioner sustained a net operating loss for 1946; it exceeded the net income of the petitioner for 1944; it was allowed as a net operating loss carryback to 1944 to...

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