Legal Opinion
Bank of America Nat. T. & Sav. Ass'n v. Com'r of Int. Rev.
Court of Appeals for the Ninth Circuit
Decided February 21, 1942No. 9837PublishedCited by 18 opinions
1Opinion of the Court
DENMAN, Circuit Judge.
This is a review of an order of the United States Board of Tax Appeals determining certain deficiencies in the income taxes of appellant trustee, hereinafter called taxpayer, for the tax years 1935 and 1936.(1) With reference to the tax year 1935, the Board held the Commissioner of Internal Revenue had properly computed a proposed deficiency assessment in disallowing a deduction from gross income of a capital gain realized from the sale of certain securities in the corpus of the taxpayer’s trust estate. This capital gain, it is claimed by the taxpayer, is allowable as…
2Cases cited3 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- Humes v. United StatesSupreme Court of the United States · 1928
3Cited by18 opinions
- Merchants Nat. Bank of Boston v. CommissionerSupreme Court of the United States · 1943
- Washington v. United StatesCourt of Appeals for the Ninth Circuit · 1954
- Commissioner of Internal Rev. v. Robertson's EstateCourt of Appeals for the Fourth Circuit · 1944
- Seubert v. ShaughnessyCourt of Appeals for the Second Circuit · 1956
- Ferdinand Cinelli and Sarah M. Cinelli v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1974
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