Legal Opinion
One Hundred Five West Fifty-Fifth Street, Inc. v. Commissioner
Court of Appeals for the Second Circuit
Decided June 30, 1930No. 161PublishedCited by 5 opinions
1Opinion of the CourtChase, Circuit Judge
(after stating the facts as above).
The petitioner claims that the $40,480 paid Hearn was either a maintenance expense or a loss deductible under the provisions of the Revenue Act of 1918, c. 18, 40 Stat. 1057, 1077. The applicable portion of the statute follows:
“See. 234. (a) That, in computing the net income of a corporation subject to the tax imposed by section 230 there shall be allowed as deductions:
“(1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business. * * *
“(4) Losses sustained during the taxable year and not…
2Cases cited1 opinion
- Murray Hospital v. RasmussenCourt of Appeals for the Ninth Circuit · 1927
3Cited by5 opinions
- Blackmer v. CommissionerCourt of Appeals for the Second Circuit · 1934
- A. Giurlani & Bro. v. Com'r of Int. Rev.Court of Appeals for the Ninth Circuit · 1941
- Sam P. Wallingford G. Corp. v. Commissioner of Int. Rev.Court of Appeals for the Tenth Circuit · 1934
- Commissioner of Internal Revenue v. the HubCourt of Appeals for the Fourth Circuit · 1934
- RJ Reynolds Tobacco Co. v. Commissioner of Int. Rev.Court of Appeals for the Fourth Circuit · 1938