Legal Opinion
Commissioner of Internal Revenue v. Smith
Court of Appeals for the Second Circuit
Decided April 10, 1953No. 22397_1PublishedCited by 82 opinions
1Opinion of the Court
CLARK, Circuit Judge.
In this case the taxpayer Weldon D.. Smith sought restoration of a deduction of $38,220 in his income tax return for 1945 which the Commissioner had disallowed. The taxpayer claimed this deduction as a-business debt which became worthless during the year as authorized by I.R.C. § 23(k) (1), 26 U.S.C. § 23(k) (1). The Commissioner challenged the deduction on several grounds. A majority of the Tax Courtsustained the taxpayer’s claim in an opinion by Judge Rice, 17 T.C. 135. Six of the-judges dissented, however, Judge Disney writing a dissenting opinion in which four-of his…
2Cases cited9 opinions
- Flint v. Stone Tracy Co.Supreme Court of the United States · 1911
- Higgins v. CommissionerSupreme Court of the United States · 1941
- Burnet v. ClarkSupreme Court of the United States · 1932
- Dalton v. BowersSupreme Court of the United States · 1932
- The Parker Mills v. . the Commissioners of TaxesNew York Court of Appeals · 1861
4 more not listed; retrieve them via the Exa API.
3Cited by82 opinions
- Whipple v. CommissionerSupreme Court of the United States · 1963
- John M. Trent and Lisa M. Trent v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1961
- Towers v. CommissionerUnited States Tax Court · 1955
- H. Beale Rollins and Mary E. Rollins v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1960
- Rollins v. CommissionerUnited States Tax Court · 1959
77 more not listed; retrieve them via the Exa API.