Case Name: Mutual Iron Works, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1927-04-19
Citations: 6 B.T.A. 894
Docket Number: Docket No. 9091
Parties: Mutual Iron Works, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: 
Reporter: Reports of the United States Board of Tax Appeals
Volume: 6
Pages: 894–895

Head Matter:
Mutual Iron Works, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 9091.
Promulgated April 19, 1927.
Oscar Ferger, G. P. A., for the petitioner.
T. M. Willcins, Esq., for the respondent.

Opinion:
OPINION.
Milliken:
Petitioner assigns error in that the return filed by it in March, 1925, included the income of the predecessor partnership, which income should have been excluded from the return as filed by the petitioner. No evidence was introduced and our findings-of fact result from admissions made at the hearing of this cause by counsel for the respondent. We are unable to determine if petitioner made a valid election pursuant to the provisions of section 330 of the Revenue Act of 1918, so that the income of the predecessor partnership, from January 1', 1918, to date of organization of petitioner on February 25, 1918, should be included as the income of the successor corporation, or if the necessary conditions precedent to the applicability to section 330, have been met. We also have no evidence before us that the partnership derived or earned any net income for the period January 1, 1918, to February 25, 1918. It is accordingly impossible to determine whether the return filed by petitioner in March, 1925, actually included any income earned by the predecessor partnership.
Judgment will be entered for the respondent.