The Commissioner determined a deficiency of $2,691.42 in the petitioner's excess profits tax for 1943. An overpayment of $3,666.60 in that tax is claimed by the petitioner.
The question in issue is whether the Commissioner erred in excluding from the petitioner's equity invested capital for 1943 income attributable to a discharge, in 1942, of indebtedness of the petitioner.
The parties have stipulated that, if the Commissioner prevails on this issue, the deficiency...
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.