Opinion ID: 2309949
Heading Depth: 1
Heading Rank: 6

Heading: Computation of Average Indebtedness of Wilmington

Text: The Commission argues that the Superior Court committed error in reversing the Commission's computation of Wilmington's income taxes for the test year. The point involved is the amount of interest paid for 1961. The reversal was ordered for the stated reason that the record contained no facts upon which a computation of interest actually paid during 1961 could be made. The Commission argues that there is in the record a basis for the computation of Wilmington's average indebtedness for 1961, but since we are not so clear that this is so, and since the case must go back to the Commission for further consideration in any event, we affirm the remand upon this point. The judgment below is affirmed with the exception of the remand to the Commission for further consideration of the allowance of cash working capital which is reversed.