(Download) "Commissioner of Internal Revenue v. Whaling" by United States Court Of Appeals Sixth Circuit " Book PDF Kindle ePub Free
eBook details
- Title: Commissioner of Internal Revenue v. Whaling
- Author : United States Court Of Appeals Sixth Circuit
- Release Date : January 10, 1960
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 73 KB
Description
The respondent, Spermacet Whaling & Shipping Co., is a corporation organized under the laws of the Republic of Panama.During the period of April, 1947, through the latter part of January, 1948, it participated in a fishing expedition for sperm whales and the production of sperm oil off the western coast of South America. It received from these operations during its fiscal year ending April 30, 1948, net income of $924,979.72. The respondent, as a foreign corporation, contends that not any of such net income is taxable to it by the United States. The Commissioner ruled otherwise and made a deficiency assessment of $351,492.29.