Legal Opinion
Alexander & Baldwin, Limited v. Kanne
Court of Appeals for the Ninth Circuit
Decided June 13, 1951No. 12500PublishedCited by 8 opinions
1Opinion of the Court
DENMAN, Chief Judge.
Taxpayer, Alexander & Baldwin, Limited, appeals from a judgment refusing a $50,000 deduction' from its income for the tax year 1932.
In 1931 the Henry Waterhouse Trust Company, Limited, a Hawaiian corporation, although conducting business as usual, was encountering great financial difficulties in that year of world depression. The Bishop Trust Company, Limited, agreed to take over the Waterhouse Company’s business and liquidate all its obligations, provided, inter alia, that $400,000 be contributed by persons and firms in Hawaii who would be benefited by preventing the…
2Cases cited5 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Lewellyn v. Electric Reduction Co.Supreme Court of the United States · 1927
- Bercaw v. CommissionerCourt of Appeals for the Fourth Circuit · 1948
- A. Giurlani & Bro. v. Com'r of Int. Rev.Court of Appeals for the Ninth Circuit · 1941
- Milton Bradley Co. v. United StatesCourt of Appeals for the First Circuit · 1944
3Cited by8 opinions
- Hans Zimmerman and Clara Zimmerman, Apellants v. United States of America and District Director of Internal RevenueCourt of Appeals for the Ninth Circuit · 1963
- Clark v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1953
- Kanne v. American Factors, Limited. American Factors, Limited v. KanneCourt of Appeals for the Ninth Circuit · 1951
- Inman-Poulsen Lumber Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- Tennessee Products & Chemical Corp. v. United StatesDistrict Court, M.D. Tennessee · 1961
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