Guaranty State Bank v. Commissioner
United States Board of Tax Appeals
Findings made in 1922 by the State Banking Commissioner as to the financial condition of petitioner and the decree of the State court approving such report and declaring the bank insolvent are not res adjudicata of the questions involved here and certified copies thereof are not competent evidence to establish the invested capital of petitioner for 1920 and prior years, or to prove that petitioner is entitled to additional deductions in 1920 for bad debts which it had not in…
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Findings made in 1922 by the State Banking Commissioner as to the financial condition of petitioner and the decree of the State court approving such report and declaring the bank insolvent are not res adjudicata of the questions involved here and certified copies thereof are not competent evidence to establish the invested capital of petitioner for 1920 and prior years, or to prove that petitioner is entitled to additional deductions in 1920 for bad debts which it had not in that year ascertained to be worthless and charged off.
1Opinion of the Court
*544OPINION.
Littleton:
Counsel for petitioner insists that this case presents the single issue on its merits of the faith and credit to be given to findings made by the Commissioner of Banking of Texas in the *545discharge of his statutory duties, and also to the decree of the State court approving the Commissioner’s report. He insists that the findings of the Banking Commissioner approved by the court are binding on the Board. The report of the Banking Commissioner and the decree of the court approving it constitutes the only evidence offered before this Board. The Banking Commissioner’s report and…
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- Last Chance Mining Co. v. Tyler Mining Co.Supreme Court of the United States · 1895
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- Washington, Alexandria, & Georgetown Steam-Packet Co. v. SicklesSupreme Court of the United States · 1861
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3Cited by8 opinions
- Suarez v. CommissionerUnited States Tax Court · 1972
- Guaranty State Bank v. CommissionerUnited States Board of Tax Appeals · 1928
- Jackson v. CommissionerUnited States Board of Tax Appeals · 1935
- Peveler v. CommissionerUnited States Tax Court · 1979
- Republic Bank & Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1937
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