The respondent has determined an excess profits tax deficiency of $19,925.35 against the petitioner for the calendar year 1944.
The issue presented is whether, in determining the excess profits credit based upon the invested capital method, the petitioner's obligation for the balance due under a contract for purchase and sale of timberlands and an alleged promissory note executed pursuant to that contract, constitutes an outstanding indebtedness evidenced by a note...
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.