Legal Opinion
H. And G. Industries, Inc. And Subsidiaries v. Commissioner of Internal Revenue
Court of Appeals for the Third Circuit
Decided April 18, 1974No. 73-1718PublishedCited by 14 opinions
1Opinion of the Court
OPINION OF THE COURT
MAX ROSENN, Circuit Judge.
H.. & G. Industries, Inc., the taxpayer-appellant in this case, redeemed an issue of its preferred stock at a premium in order to relieve itself of the allegedly onerous stock purchase agreement pursuant to which the preferred was issued. The sole question on this appeal is whether the taxpayer is entitled to deduct the premium paid by it on this redemption as an ordinary and necessary business expenses under § 162(a) of the Internal Revenue Code of 1954 (the Code). The taxpayer deducted the item on its income tax return for the fiscal year ending…
2Cases cited9 opinions
- Helvering v. Community Bond & Mortgage CorporationCourt of Appeals for the Second Circuit · 1935
- John Wanamaker Philadelphia v. Com'r of Int. RevenueCourt of Appeals for the Third Circuit · 1943
- Five Star Manufacturing Company v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1966
- Olympia Harbor Lumber Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1935
- Roberts & Porter, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1962
4 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Jim Walter Corporation v. United StatesCourt of Appeals for the Fifth Circuit · 1974
- Harder Services, Inc. v. CommissionerUnited States Tax Court · 1976
- Frederick Weisman Co. v. CommissionerUnited States Tax Court · 1991
- Rodeway Inns of America v. CommissionerUnited States Tax Court · 1974
- Richmond, Fredericksburg and Potomac Railroad Company v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1975
9 more not listed; retrieve them via the Exa API.