OPINION.
DRENNEN, Judge:
Respondent determined a deficiency in petitioner's income tax in the amount of $76,976.65 and an overassessment in its excess profits tax in the amount of $202,773.72 for the year 1943.
The sole question for decision is whether respondent erred in computing the unused excess profits credit carryover from 1941 to 1943 by basing the excess profits credit for the intervening year 1942 on average base period net income...
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.