Doric Co. v. Commissioner
United States Tax Court
For its fiscal year ended October 31, 1957, and prior fiscal years, K corporation filed its returns on an accrual basis and consistently followed the practice of accruing on its books its property taxes for the current year on a monthly basis.
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For its fiscal year ended October 31, 1957, and prior fiscal years, K corporation filed its returns on an accrual basis and consistently followed the practice of accruing on its books its property taxes for the current year on a monthly basis. K corporation became a member of an affiliated group of corporations on February 1, 1958. It filed a return for the period November 1, 1957, to January 31, 1958, and claimed as a deduction the entire amount of property taxes levied by the State of Washington for the calendar year 1958. Held, it was entitled to deduct only that portion of its property…
1Opinion of the Court
The Doric Company, Transferee of Kellerblock Corporation, (Dissolved), Petitioner, v. Commissioner of Internal Revenue, Respondent
Doric Co. v. Commissioner
Docket No. 92774
United States Tax Court
40 T.C. 985; 1963 U.S. Tax Ct. LEXIS 52;
September 19, 1963, Filed
Decision will be entered under Rule 50.
For its fiscal year ended October 31, 1957, and prior fiscal years, K corporation filed its returns on an accrual basis and consistently followed the practice of accruing on its books its property taxes for the current year on a monthly basis. K corporation became a member of an affiliated group of…
2Cases cited16 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Knetsch v. United StatesSupreme Court of the United States · 1960
- Dixie Pine Products Co. v. CommissionerSupreme Court of the United States · 1944
- Magruder v. SuppleeSupreme Court of the United States · 1942
- Atlantic C. L. R. Co. v. CommissionerUnited States Tax Court · 1944
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