United States Tax Court July 11, 1946, Docket No. 8154 (Kimbrell's Home Furnishings, Inc. v. Commissioner)

lead-opinion

OPINION.

Hill, Judge:

Having come into existence after January 1, 1940, petitioner was required, in determining its excess profits tax liability for the fiscal year ended August 31,1943, to compute its excess profits credit under section 714 of the Internal Revenue Code.