Legal Opinion
Indianapolis Power & Light Company v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided September 20, 1988No. 87-2438PublishedCited by 10 opinions
1Opinion of the Court
FLAUM, Circuit Judge.
The Internal Revenue Service (“IRS”) assessed deficiencies against Indianapolis Power & Light Company (“IPL”) for the tax years 1974-77, arguing that deposits IPL required certain customers to make in order to receive electrical services were advance payments for tax purposes that should have been included in gross income in the year IPL received them. IPL contested the deficiencies. The Tax Court ruled that the sums were security deposits and that IPL therefore properly excluded them from gross income. We affirm. 1
I
IPL generates and sells electricity in Indianapolis and…
2Cases cited19 opinions
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- Commissioner v. TuftsSupreme Court of the United States · 1983
- Gilken Corporation v. Commissioner of Internal Rev.Court of Appeals for the Sixth Circuit · 1949
- Clinton Hotel Realty Corp. v. Com'r of Int. Rev.Court of Appeals for the Fifth Circuit · 1942
- Illinois Power Company v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1986
14 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Commissioner v. Indianapolis Power & Light Co.Supreme Court of the United States · 1990
- American Medical Association, Cross-Appellant v. United States of America, Cross-AppelleeCourt of Appeals for the Seventh Circuit · 1989
- United States v. Grama K. BhagavanCourt of Appeals for the Seventh Circuit · 1997
- Melvin J. Cole and Harriet L. Cole v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1989
- Oak Industries, Inc. v. CommissionerUnited States Tax Court · 1991
5 more not listed; retrieve them via the Exa API.