This case involves deficiencies in excess profits tax liability for calendar years as follows: 1942, $2,831.39; 1943, $3,504.33. The question presented is whether the petitioner's indebtedness to its parent corporation constitutes borrowed capital, within the meaning of section 719 (a) (1), Internal Revenue Code. The parties filed a stipulation of a portion of the facts, which we adopt by reference and find the facts therein set forth. So far as considered material they will...
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.