OPINION.
ARUNDELL, Judge:
Respondent determined a deficiency in income tax for the fiscal year ending September 30, 1954, in the amount of $16,291.34. Instead of a deficiency petitioner claims an overpayment in the amount of $4,544.83.
The only issue is whether income earned by a subsidiary corporation which filed a consolidated income tax return with its parent corporation (petitioner herein) can be offset by a net operating loss deduction...
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.
