Legal Opinion
Peoples Federal Savings & Loan Ass'n v. United States
District Court, D. South Carolina
Decided December 7, 1970No. Civ. A. No. 69-897PublishedCited by 1 opinion
1Opinion of the Court
FINDINGS OF FACT, CONCLUSIONS OF LAW, OPINION AND ORDER
DONALD RUSSELL, District Judge.
This action to recover allegedly improperly assessed and collected income taxes involves the proper application of Section 593 of the Internal Revenue Code of 1954 (26 U.S.C.) and the regulations issued thereunder, by which a domestic building and loan association organized for mutual purposes and without profit may, in lieu of taking a deduction of actual loan losses sustained, elect to use the reserve method of deducting bad debts for tax purposes.
The facts giving rise to the controversy are not in dispute…
2Cases cited10 opinions
- Rio Grande Bldg. & Loan Ass'n v. CommissionerUnited States Tax Court · 1961
- Paul H. And Doris E. Travis, Petitioners-Respondents v. Commissioner of Internal Revenue, Respondent-PetitionerCourt of Appeals for the Sixth Circuit · 1969
- Colorado County Federal Sav. & Loan Asso. v. CommissionerUnited States Tax Court · 1961
- Commercial Sav. & Loan Asso. v. CommissionerUnited States Tax Court · 1969
- Levelland Savings and Loan Assoc. v. United StatesCourt of Appeals for the Fifth Circuit · 1970
5 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Annapolis Federal Sav. & Loan Asso. v. CommissionerUnited States Tax Court · 1972