Tri-State Realty Co. v. Commissioner
United States Tax Court
Upon the facts, held, the credit balances of an open account in petitioner's accounts payable ledger did not constitute equity invested capital within the meaning of section 718 (a) of the Internal Revenue Code prior to April 18, 1942.
1Opinion of the Court
Tri-State Realty Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Tri-State Realty Co. v. Commissioner
Docket No. 17256
United States Tax Court
12 T.C. 192; 1949 U.S. Tax Ct. LEXIS 276;
February 14, 1949, Promulgated
Decision will be entered under Rule 50.
Upon the facts, held, the credit balances of an open account in petitioner's accounts payable ledger did not constitute equity invested capital within the meaning of section 718 (a) of the Internal Revenue Code prior to April 18, 1942.
Robert A. Littleton, Esq., for the petitioner.
F. S. Gettle, Esq., for the respondent.
Hill,…
2Cases cited2 opinions
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- Tri-State Realty Co. v. CommissionerUnited States Tax Court · 1949