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CLINTON CARPET CO. v. COMMISSIONER

Docket No. 7006.

14 T.C. 581 (1950)

CLINTON CARPET COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated April 14, 1950.

Attorney(s) appearing for the Case

Peter L. Wentz, Esq., and Milton E. Carter, Esq., for the petitioner.

Gerald W. Brooks, Esq., for the respondent.

The petitioner claims relief from excess profits tax for 1941 and 1942 under section 722 (b) (5) on the ground that an amortization deduction must be eliminated in each of the base years in order to make its average base period net income an adequate standard of normal earnings. The Commissioner rejected the petitioner's applications.

FINDINGS OF FACT.

Tanners Products Co. (herein called Tanners) and its subsidiaries had developed a material called Ozite...

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