Legal Opinion
Great Commonwealth Life Insurance Co. v. United States
Court of Appeals for the Fifth Circuit
Decided March 18, 1974No. 73-1504PublishedCited by 16 opinions
1Opinion of the Court
THORNBERRY, Circuit Judge:
In computing its taxable gain from operations for 1966, Great Commonwealth took account of only the net valuation portion of deferred and uncollected premiums. On examination of the return, the Commissioner increased- the taxable income by requiring inclusion of the gross amount of those premiums and assessed a deficiency of $62,260.15 plus interest. Great Commonwealth paid the deficiency and subsequently filed this suit for a refund, which the district court denied. The company contends that it should not have been required to report the gross amount, or, at least,…
2Cases cited22 opinions
- Brown v. HelveringSupreme Court of the United States · 1934
- American Automobile Assn. v. United StatesSupreme Court of the United States · 1961
- Schulde v. CommissionerSupreme Court of the United States · 1963
- Central Cuba Sugar Co. v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. Central Cuba Sugar CoCourt of Appeals for the Second Circuit · 1952
- Alinco Life Insurance Company v. The United StatesUnited States Court of Claims · 1967
17 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- United States v. Consumer Life Insurance Co.Supreme Court of the United States · 1977
- Commissioner v. Standard Life & Accident InsuranceSupreme Court of the United States · 1977
- Bankers Union Life Ins. Co. v. CommissionerUnited States Tax Court · 1974
- Western Casualty & Surety Co. v. CommissionerUnited States Tax Court · 1976
- Federal Life Insurance Company (Mutual) v. United StatesCourt of Appeals for the Seventh Circuit · 1975
11 more not listed; retrieve them via the Exa API.