Union Carbide Corporation and Subsidiaries - Page 1


                                   110 T.C. No. 28                                     

                               UNITED STATES TAX COURT                                 

              UNION CARBIDE CORPORATION AND SUBSIDIARIES, Petitioner v.                
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                       

               Docket No. 3501-94.                   Filed June 15, 1998.              

                    P, the related supplier of UCFSC, a wholly owned                   
               foreign sales corporation (FSC) within the meaning of                   
               sec. 922, I.R.C., filed a motion for partial summary                    
               judgment, arguing that P is entitled to redetermine its                 
               FSC commission expenses for its taxable years 1987,                     
               1988, and 1989 pursuant to sec. 925(a), I.R.C., and                     
               regulations thereunder.  R objects to P's motion and                    
               filed a cross-motion for partial summary judgment,                      
               arguing that P failed to claim additional FSC                           
               commission expenses within the time prescribed by sec.                  
               1.925(a)-1T(e)(4), Temporary Income Tax Regs., 52 Fed.                  
               Reg. 6448 (Mar. 3, 1987).                                               
                    1.  Held:  Respondent's cross-motion for partial                   
               summary judgment granted and petitioner's motion for                    
               partial summary judgment denied; sec. 1.925(a)-                         
               1T(e)(4), Temporary Income Tax Regs., supra, requires                   
               that the period of limitations for claiming refunds                     
               under sec. 6511, I.R.C., be open for both petitioner                    

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