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FEDERAL
VOLUME 9

REGISTER

1934

Wanted
p

NMBER 13

Washington, Wednesday, January 19, 1944
Regulations TITLE 26INTERNAL REVENUE
Chapter IBureau of Internal Revenue Subrhapter A Income and Excess-Profit Taxes
T.D. 5327
P art
33 C o n s o l id a t e d R e t u r n s
of A f
C o r p o r a t io n s P rescribed U n
der S e c t io n 730 b o f t h e E x c e s s P r o f it s T ax A ct o f 1940

f il ia t e d
INTERCOMPANY
STOCKHOLDING INTERESTS
HELD W IT H COST BASIS, AND W IT H BASIS
OTHER THAN COST

Regulations 110 Part 33, Title 26, Code of Federal Regulations, 1941 Sup.
are amended, effective for taxable years for which the .return is due to be filed on or after the date of the approval of this Treasury decision, as follows:
P aragraph 1. Section 33.31 c 2
iv> /, as amended by Treasury Deci sion. 5245, approved March 13, 1943, is further amended to read as follows:
/ W ith respect to the stock of an other member of the affiliated group held with a basis for invested capital pur poses determined to be a basis other than cost, there shall be subtracted from equity invested capital otherwise com puted an amount equal to such basis adjusted by an amount equal to the ad justments proper under section 115 1
for determining earnings and profits, except that no adjustment shall be made with respect to:
1 Transactions referred to in d and e , and 2 Losses of the issuing corporation subsequent to the acquisition of such stock which losses were included in a consolidated income or excess profits tax return;
P ar . 2. Section 33.31 c 2 iv g, as amended by Treasury Decision 5245, is further amended to read as follows:

9 In the case of a member of the affiliated group the stock of which is held by other members of such group with a basis for invested capital purposes de termined to be a cost basis, there shall be excluded as of the date on which such
corporation became a member of the CONTENTS
group within the meaning of section 141
REGULATIONS AND NOTICES
d of the Code that portion of its equity invested capital attributable to the shares A l ie n P r o p e r t y C u s t o d ia n :
of stock so held; there shall also be Special orders:
Page excluded, as of the date of any subse Geffcken, Heinrich, and Hans quent acquisition, that portion of its B au r_____________________
737
equity invested capital attributable to Schat, Ane Pieter_____________
737
shares of stock similarly acquired and Vesting orders:
held by other members of the group; no 743
Berky, Julius____1____________
addition shall be made on account of Braun, Leonard_______________
744
money or property not including stock Daly, Marcus___ _______________
742
of another member of the group held with Di Falso, Raffaele_____________
734
a basis determined to be l basis other Eiben, Joseph_________________
744
than cost thereafter paid in for stock 737
Flosman, Gustav______________
held by another member of the group or Geffcken, Heinrich____________
735
as paid-in surplus or a contribution to Gorsler, Auguste, et al_________
736
capital .paid in with respect to shares of 740
Holly Bakery__________________
stock subject to the provisions of this in Iida, S. M ____________________
741
ferior subdivision 33.31 c 2 iv 742
Jacoby, Henry_________________
fif; and no reduction shall be made Juergens, John, et al__________
744
on account of any distribution thereafter 745
Krueger, Henry__ ____________
made to any other member of the group;
Lauer, Andrew____!_________
745
Lonie, Gretchen_______________
746
P ar . 3. Section.33.31 c 2 v a , Miwa, J. S., Co., Ltd_________ -742
as amended by Treasury Decision 5245, 738
Nagao Shoten, Ltd____________
is further amended to read as follows:
Nakano, K., Ltd_______________
739
a
In the case of a member of the a f Palama Music, Ltd____________
738
filiated group the stock of which is held Petke, Conrad______________
746
by other members of such group with a Rosenblum, Charles___________
746
basis for invested capital purposes deter 743
Sabit, Alberta Ulman__________
mined to be a cost basis, there shall be Sakuma Shokai, Ltd__________
739
excluded as of the date on which such Sauro, Michelina Cierla______
739
corporation became a member of the Schat, Ane Pieter_____________
734
group within the meaning of section 141
Schmidt, Gertrud_____________
747
d of the Code that portion of its earn 747
Schott, Katherine____________
ings and profits, or deficit in earnings Shoten, K. Kawashima______
738
and profits, previously accumulated and 743
Sturcke, Herman Edward __
properly allocable to the shares of stock Tiedemann, Fannie____________
735
so held; there shall also he excluded, as Vowinckel, Wilhelm Ferdi of the date of any subsequent acquisi nand!_____________________
740
tion, any earnings and profits, or deficit Wenzel, Lucy__________________
736
in earnings and profits, previously accu Wilkens, Alice_______________
736
mulated and properly allocable to any Yonekura Co., Ltd_____________
741
shares of stock similarly acquired and I nternal R evenue B ur eau:
held by other members of the group;
Affiliated corporations consoli dated returns under ExcessP ar. 4. Section 33.31 c 2 v , as Profits Tax Act of 1940; inamended by Treasury Decision 5245, is tercompany stockholding further amended by inserting immedi interests held with cost and ately after subdivision g the following:
other than cost basis_______
717
h In the case of distributions from I n t e r st a t e C o m m e r c e C o m m is s io n :
earnings and profits made by a member Citrus fruit shipments, recon of the group with respect to stock held signment_________________
733
by another member of the group with a Potato shipments, reconsign cost basis, there shall be subtracted from ment 2 documents ______
733
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