People Ex Rel. New York Life Insurance Company v. . Walsh

Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered August 25, 1921, which reversed, on certiorari, a determination of the state tax commission overruling the relator’s application for revision of its franchise tax, so as to allow a deduction of the amount of dividends credited to holders of policies on the deferred dividend plan and a deduction on account of premiums refunded to policyholders on the cancellation of their policies. The Appellate Division held that relator was entitled to credit for all amounts which, in the performance…