Wesley Heat Treating Co. v. Commissioner
United States Tax Court
1. A contribution irrevocably paid in 1941 by taxpayer to a profit-sharing trust for employees, which contribution was distributed in 1942 and 1943, held deductible as a business expense under section 23 (a), I. R. C. 1939, where contribution together with regular wages and salaries paid constituted reasonable compensation for services rendered in 1941. 2. Contributions irrevocably made during the years 1942 through 1946 by taxpayer to profit-sharing trusts for employees,…
Read the full summary
1. A contribution irrevocably paid in 1941 by taxpayer to a profit-sharing trust for employees, which contribution was distributed in 1942 and 1943, held deductible as a business expense under section 23 (a), I. R. C. 1939, where contribution together with regular wages and salaries paid constituted reasonable compensation for services rendered in 1941. 2. Contributions irrevocably made during the years 1942 through 1946 by taxpayer to profit-sharing trusts for employees, which contributions were distributed to employees subsequent to years in which trusts established, held not deductible…
1Opinion of the Court
Wesley Heat Treating Co., Petitioner, v. Commissioner of Internal Revenue, Respondent. Spindler Metal Processing Co., Petitioner, v. Commissioner of Internal Revenue, Respondent. Wesley Steel Treating Co., Petitioner, v. Commissioner of Internal Revenue, Respondent
Wesley Heat Treating Co. v. Commissioner
Docket Nos. 58828, 58829, 58830
United States Tax Court
30 T.C. 10; 1958 U.S. Tax Ct. LEXIS 216;
April 14, 1958, Filed
Decisions will be entered under Rule 50.
1. A contribution irrevocably paid in 1941 by taxpayer to a profit-sharing trust for employees, which contribution was distributed in 1942…
2Cases cited14 opinions
- American Properties, Inc. v. CommissionerUnited States Tax Court · 1957
- Tavannes Watch Co. v. Commissioner of Internal Rev.Court of Appeals for the Second Circuit · 1949
- Lord v. CommissionerUnited States Tax Court · 1942
- Pullman, Inc. v. CommissionerUnited States Tax Court · 1947
- Wesley Heat Treating Co. v. CommissionerUnited States Tax Court · 1958
9 more not listed; retrieve them via the Exa API.