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eBook details

• Title: Commissioner of Internal Revenue v. F. W. Poe Manufacturing Co.
• Author : United States Court of Appeals
• Release Date : January 22, 1957
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 69 KB

Description

This is the second time that we have had before us questions relating to the excess profits tax due by the F. W. Poe Manufacturing Company for the years 1941 and 1942. On the former occasion the Tax Court had held that it had no jurisdiction to consider a so-called "standard" issue raised by the Commissioner of Internal Revenue in a proceeding brought to it under section 732 of the 1939 Revenue Code for relief under section 722 of that code. We held this to be erroneous and remanded the case to the Commissioner of Tax Court for further proceedings. Commissioner of Internal Revenue v. F. W. Poe Mfg. Co., 4 Cir., 224 F.2d 254. Upon the remand, the parties by stipulation severed the issue of the statute of limitations from the other issues in the case and submitted the case on that issue alone. The Tax Court held that the claim asserted by the Commissioner was barred by limitations on the ground that the filing of a petition under 26 U.S.C. § 732 for relief pursuant to the provisions of section 722 suspends the statute of limitations only for the period after the mailing of the notice and can have no effect where the bar of the statute has fallen before the notice is mailed. The Tax Court based this decision on its holding in H. Fendrich, Inc., 25 T.C. 262, which was later reversed by the Court of Appeals of the 7th Circuit in H. Fendrich v. Commissioner, 7 Cir., 242 F.2d 803. We think that the reasoning of the Tax Court was erroneous and that the correct rule is that stated by the 7th Circuit. In the case before us, however, we think that the judgment of the Tax Court was correct although based on erroneous reasoning. Only the invoking of relief under section 722 could free the matters embraced in the standard issues from the bar of the statute of limitations; and we think it clear from the record that relief under section 722 was invoked by taxpayer only upon the condition that it was not entitled to relief on other grounds and that it was clearly entitled to relief on those grounds. The facts are as follows:

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