Respondent determined a deficiency in petitioner's excess profits tax for the calendar year 1943 of $8,153.39.
The only issue presented for decision is whether respondent properly determined that the amount of $90,000 covering notes paid in for stock did not constitute invested capital under section 718 of the Internal Revenue Code or a capital addition under section 713 in computing petitioner's excess profits credit.
At the hearing respondent conceded that...
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.