National Protective Ins. v. Commissioner

JOHNSEN, Circuit Judge.

The question is whether petitioner is entitled to be classified as a “life insurance company” for income tax purposes, or whether it is subject to be taxed as “an *949insurance company other than life or mutual”.

Petitioner made its tax returns as a life insurance company, under sections 201-203 of the Revenue Acts of 1934 and 1936, 48 Stat. 731, 49 Stat. 1710, 26 U.S.C.A. Internal Revenue Acts, pages 729-732 and 898-900. Section 201(a) of these acts defines a life insurance company, for income tax purposes, as follows: “When used in this title the term ‘life insurance…