New York Sun, Inc. v. Commissioner
United States Tax Court
Income Tax -- Deductions. -- Held, that petitioner's membership in the Associated Press did not become worthless in 1945 as a result of either the decision of the Supreme Court of the United States invalidating the monopolistic provisions of the Associated Press bylaws or the subsequent amendments to such bylaws, and that petitioner is not entitled to deduct in that year, under section 23 (f) of the Internal Revenue Code of 1939, the basis of such membership.
1Opinion of the Court
The New York Sun, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
New York Sun, Inc. v. Commissioner
Docket No. 36968
United States Tax Court
27 T.C. 319; 1956 U.S. Tax Ct. LEXIS 35;
November 26, 1956, Filed
Decision will be entered under Rule 50.
Income Tax -- Deductions. -- Held, that petitioner's membership in the Associated Press did not become worthless in 1945 as a result of either the decision of the Supreme Court of the United States invalidating the monopolistic provisions of the Associated Press bylaws or the subsequent amendments to such bylaws, and that petitioner is…
2Cases cited8 opinions
- Associated Press v. United StatesSupreme Court of the United States · 1945
- Commissioner of Internal Revenue v. McCarthyCourt of Appeals for the Seventh Circuit · 1942
- Reporter Pub. Co., Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1953
- Consolidated Freight Lines v. Commissioner of Int. Rev.Court of Appeals for the Ninth Circuit · 1939
- Flory Milling Co. v. CommissionerUnited States Tax Court · 1953
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