Spokane Dry Goods Co. v. Commissioner
United States Board of Tax Appeals
Petitioner having been allowed a dividends paid credit for 1936 in the full face amount of its promissory notes paid as dividends, held not entitled in 1938 to dividends paid credit under the Revenue Act of 1938, section 27(a)(4), for amounts used to pay off such notes.
1Opinion of the Court
OPINION.
Opper: Respondent determined a deficiency of $479.75 in petitioner’s income tax for the calendar year 1938. Only $236.19 of such deficiency is in controversy in this proceeding and represents that *794part of the deficiency which, results from the disallowance of a dividends paid credit in the amount of $35,830.30. This disallowance is the only error assigned by petitioner. The facts are stipulated and are hereby found accordingly.
The petitioner, Spokane Dry Goods Co., is a Washington corporation, with its principal place of business at Spokane, Washington, and its income tax return for…
2Cases cited6 opinions
- D. Ginsberg & Sons, Inc. v. PopkinSupreme Court of the United States · 1932
- Charles Ilfeld Co. v. HernandezSupreme Court of the United States · 1934
- United States v. ChaseSupreme Court of the United States · 1890
- Townsend v. LittleSupreme Court of the United States · 1883
- Missouri v. RossSupreme Court of the United States · 1936
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Thrifty Oil Co. & Subsidiaries v. CommissionerUnited States Tax Court · 2012
- Sabine Transp. Co. v. CommissionerCourt of Appeals for the Fifth Circuit · 1942
- Central Kansas Power Co. v. CommissionerUnited States Board of Tax Appeals · 1942
- Journal Co. v. CommissionerUnited States Board of Tax Appeals · 1942
- Pacific Flush--Tank Co. v. CommissionerUnited States Board of Tax Appeals · 1941
1 more not listed; retrieve them via the Exa API.