Legal Opinion
Colonial Savings Ass'n v. Commissioner
Court of Appeals for the Seventh Circuit
Decided August 10, 1988No. Nos. 87-1012, 87-1633, 87-1499 & 87-1500PublishedCited by 6 opinions
1Opinion of the Court
RIPPLE, Circuit Judge.
These appeals present two separate questions of tax law, and require us to review two different decisions of the United States Tax Court.1 The first issue is whether early withdrawal penalties received by banking institutions from depositors constitute discharge of indebtedness income to the institutions under section 108 of the Internal Revenue Code of 1954 (the Code). The second issue is whether shareholders of the Chicago Federal Home Loan Bank recognized income upon the receipt of stock dividends in 1978 and 1979, under section 305 of the Code, when none of the…
2Cases cited18 opinions
- United States v. Kirby Lumber CoSupreme Court of the United States · 1931
- Bowers v. Kerbaugh-Empire Co.Supreme Court of the United States · 1926
- Fidelity Financial Corporation v. Federal Home Loan Bank of San Francisco, Milton Feinerman, President of the Federal Home Loan Bank of S.F.Court of Appeals for the Ninth Circuit · 1986
- Fahey v. O'Melveny & Myers Federal Home Loan Bank of San Francisco v. O'Melveny & MyersCourt of Appeals for the Ninth Circuit · 1952
- Reliable Incubator & Brooder Co. v. CommissionerUnited States Tax Court · 1946
13 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- United States v. Centennial Savings Bank FSBSupreme Court of the United States · 1991
- Ralph C. Buelow v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1992
- Cavoto v. HayesCourt of Appeals for the Seventh Circuit · 2011
- Colonial Savings Association and Subsidiaries, Cross v. Commissioner of Internal Revenue, Cross-Appellant. Frontier Savings and Loan Association v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1988
- Forehand v. FoggDistrict Court, S.D. New York · 1980
1 more not listed; retrieve them via the Exa API.