Legal Opinion
Limericks, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided January 23, 1948No. 12025PublishedCited by 72 opinions
1Opinion of the Court
HOLMES, Circuit Judge.
This petition for review involves a deficiency in federal income and excess profits taxes for the years 1941, 1942, and 1943. The question presented is whether certain amounts paid by the taxpayers’ transferor during the period in question to its president and principal stockholder as part of rent for a building used by the corporation constituted in reality a distribution of profits.
Rental payments, to be allowed as deductions from gross income, must be those required to be made as a condition to the continued use of the property. Section 23(a) (1) (A) of the Internal…
2Cases cited7 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Higgins v. SmithSupreme Court of the United States · 1940
- Dobson v. CommissionerSupreme Court of the United States · 1944
- Dobson v. CommissionerSupreme Court of the United States · 1944
2 more not listed; retrieve them via the Exa API.
3Cited by72 opinions
- Place v. CommissionerUnited States Tax Court · 1951
- Drobny v. CommissionerUnited States Tax Court · 1986
- Ruth T. Lengsfield, Coralie Mayer Lengsfield and Blanche L. Brown v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Levenson & Klein, Inc. v. CommissionerUnited States Tax Court · 1977
- American Metal Products Corp. v. CommissionerUnited States Tax Court · 1960
67 more not listed; retrieve them via the Exa API.