Legal Opinion
National Bank of Commerce of Norfolk v. United States
District Court, E.D. Virginia
Decided February 4, 1958No. Civ. A. 2268PublishedCited by 3 opinions
1Opinion of the Court
HOFFMAN, District Judge.
Plaintiff has instituted this action seeking the recovery of federal income and excess profit taxes, together with interest thereon, assessed and collected from plaintiff for the calendar years 1950 and 1951, in the aggregate principal sum of $22,306.87. 1
Section 113(a) (7) of the Internal Revenue Code of 1939 (26 U.S.C.A. § 113) provides that the tax consequences arising out of prior year reorganizations shall, for the years after December 31, 1917, and before January 1, 1936, be treated on thé basis of the cost of property for purposes of computation of gain or loss;…
2Cases cited24 opinions
- Dobson v. CommissionerSupreme Court of the United States · 1944
- Pinellas Ice & Cold Storage Co. v. CommissionerSupreme Court of the United States · 1933
- Helvering v. Minnesota Tea Co.Supreme Court of the United States · 1935
- Cortland Specialty Co. v. Commissioner of Internal Rev.Court of Appeals for the Second Circuit · 1932
- John A. Nelson Co. v. HelveringSupreme Court of the United States · 1935
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3Cited by3 opinions
- John G. Moffatt v. Commissioner of Internal Revenue, Mary E. Moffatt v. Commissioner of Internal Revenue, John G. Moffatt and Mary E. Moffatt v. Commissioner of Internal Revenue, Frank E. Nichol v. Commissioner of Internal Revenue, Ruth H. Nichol v. Commissioner of Internal Revenue, Frank E. Nichol and Ruth H. Nichol v. Commissioner of Internal Revenue, George C. Murray and Anna Mae Murray v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1966
- First National Bank v. State Tax CommissionOregon Supreme Court · 1966
- Moffatt v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1966