Commissioner v. Swift & Co. Employes Ben. Ass'n

MAJOR, Circuit Judge.

This is a petition for review by the Commissioner of Internal Revenue and a cross-petition by Swift & Company Employes Benefit Association (taxpayer), from a decision of the Tax Court of the United States, holding that there is a deficiency in the income tax of the taxpayer for the calendar years 1935 and 1936. The Commissioner contends and the Tax Court found that the taxpayer is taxable under § 204 of the Revenue Acts of 1934 and 1936, Title 26 U.S.C.A.Int.Rev.Acts, pages 732, 900, as an insurance company other than a life or mutual insurance company. The taxpayer…