Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

PINCUS BROTHERS v. COMMONWEALTH (10/17/72)

decided: October 17, 1972.

PINCUS BROTHERS, INC.
v.
COMMONWEALTH



Appeal from the Order of the Board of Finance and Revenue in case of Petition of Pincus Brothers, Inc., No. R-24531.

COUNSEL

William P. Thorn, with him Wolf, Block, Schorr and Solis-Cohen, for appellant.

Eugene J. Anastasio, Deputy Attorney General, for appellee.

Judges Crumlish, Jr., Kramer, Wilkinson, Jr., Mencer, Rogers and Blatt. President Judge Bowman did not participate. Opinion by Judge Kramer.

Author: Kramer

[ 6 Pa. Commw. Page 393]

This is an appeal by Pincus Brothers, Inc. (Pincus), from a resettlement of Pincus' corporate net income tax for the calendar year 1967 as determined by the Board of Finance & Revenue (Board). The Board's determination came about as the result of a Petition for Review by Pincus of the resettlement as determined by the Department of Revenue.

At the hearing held before this Court, a partial stipulation of facts was presented, received and filed, together with an agreement to trial without a jury. Said stipulation is accepted and utilized for purposes of this opinion. To fully comprehend our discussion, we set forth certain of the stipulated facts pertinent to this opinion, followed by additional findings of fact as developed in the record.

Findings of Fact

1. Pincus is a Pennsylvania corporation engaged in the business of manufacturing men's clothing, with

[ 6 Pa. Commw. Page 394]

    its principal office and plant in Philadelphia. Pincus duly filed its corporate net income tax report for the year ending 12-31-67. Said report showed, inter alia :

Net Income to be allocated $325,103.00

No. 1 $3,421,379 = .952479

3,592,080

No. 2 $3,722,882 = .933346

3,989,819

No. 3 $1,119,275 = .102504

10,919,319

1,988329

Divided by three .662776

     allocated net income 215,470.00

Less: Additional depreciation 32,557.00

Net Income ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.