La Salle Nat'l Bank v. Commissioner
United States Tax Court
1. Excess Profits Tax -- Credit Based upon Invested Capital -- Borrowed Capital -- Deposits by State Treasurer -- Sec. 719 (a) (1). -- Deposits by the State of Illinois did not constitute borrowed capital within the meaning of section 719 (a) (1). Commissioner v. Ames Trust & Savings Bank, 185 F. 2d 47, reversing 12 T. C. 770; National Bank of Commerce, 16 T. C. 769; and Capital National Bank of Sacramento, 16 T. C. 1202, followed. 2. Excess Profits Tax -- Credit Based upon…
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1. Excess Profits Tax -- Credit Based upon Invested Capital -- Borrowed Capital -- Deposits by State Treasurer -- Sec. 719 (a) (1). -- Deposits by the State of Illinois did not constitute borrowed capital within the meaning of section 719 (a) (1). Commissioner v. Ames Trust & Savings Bank, 185 F. 2d 47, reversing 12 T. C. 770; National Bank of Commerce, 16 T. C. 769; and Capital National Bank of Sacramento, 16 T. C. 1202, followed. 2. Excess Profits Tax -- Credit Based upon Invested Capital -- Borrowed Capital -- Cashier's Checks -- Sec. 719 (a) (1). -- Outstanding cashier's checks and bank…
1Opinion of the Court
La Salle National Bank, Petitioner, v. Commissioner of Internal Revenue, Respondent
La Salle Nat'l Bank v. Commissioner
Docket No. 45530
United States Tax Court
23 T.C. 479; 1954 U.S. Tax Ct. LEXIS 21;
December 14, 1954, Filed
Decision will be entered for the respondent.
1. Excess Profits Tax -- Credit Based upon Invested Capital -- Borrowed Capital -- Deposits by State Treasurer -- Sec. 719 (a) (1). -- Deposits by the State of Illinois did not constitute borrowed capital within the meaning of section 719 (a) (1). Commissioner v. Ames Trust & Savings Bank, 185 F. 2d 47, reversing 12 T. C. 770;…
2Cases cited9 opinions
- Hart-Bartlett-Sturtevant Grain Co. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1950
- Commissioner of Internal Revenue v. Ames Trust & Sav. BankCourt of Appeals for the Eighth Circuit · 1950
- Capital Nat'l Bank v. CommissionerUnited States Tax Court · 1951
- Player Realty Co. v. CommissionerUnited States Tax Court · 1947
- Ames Trust & Sav. Bank v. CommissionerUnited States Tax Court · 1949
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