Legal Opinion
Commissioner of Internal Revenue v. Mercantile National Bank at Dallas
Court of Appeals for the Fifth Circuit
Decided March 15, 1960No. 17622_1PublishedCited by 25 opinions
1Opinion of the Court
JONES, Circuit Judge.
The respondent is a National Banking Association at Dallas, Texas. Before us for review is a determination of the Tax Court as to the excess profits taxes payable by the Bank for the years 1951, 1952 and 1953. Mercantile National Bank at Dallas v. Commissioner, 30 T.C. 84. The facts are not in dispute nor are the factual inferences to be drawn from them. Since 1944 the Bank, with the Commissioner’s approval, has used the reserve method of accounting for bad debts. Under this method the Bank set up, initially, a bad debt reserve and added to it, annually, further amounts.…
2Cases cited19 opinions
- Crooks v. HarrelsonSupreme Court of the United States · 1930
- Association of Westinghouse Salaried Employees v. Westinghouse Electric Corp.Supreme Court of the United States · 1955
- Commissioner v. AckerSupreme Court of the United States · 1959
- 62 Cases of Jam v. United StatesSupreme Court of the United States · 1951
- Commissioner v. ConnellySupreme Court of the United States · 1949
14 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- United States v. Second National Bank of North MiamiCourt of Appeals for the Second Circuit · 1974
- Iowa-Des Moines Nat'l Bank v. CommissionerUnited States Tax Court · 1977
- Schultz v. CommissionerUnited States Tax Court · 1968
- Heigerick v. CommissionerUnited States Tax Court · 1966
- Electric Tachometer Corp. v. CommissionerUnited States Tax Court · 1961
20 more not listed; retrieve them via the Exa API.