Legal Opinion
First Nat. Bank of St. Elmo, Ill. v. United States
Court of Appeals for the First Circuit
Decided February 14, 1952No. 10476PublishedCited by 4 opinions
1Opinion of the Court
KERNER, Circuit Judge.
Appellant sued to recover income and excess profits taxes alleged to have been wrongly assessed. The facts in the case were introduced entirely by stipulation which the court adopted in lieu of special findings, concluding therefrom that, with one minor exception, appellant was not entitled to recover the taxes involved.
Appellant is a bank which acquired an 80-acre tract of farm land at a mortgage foreclosure sale in July, 1934. In August, 1936, its officers executed an oil and gas lease to one Good, acting for C. R. Bennett, reserving a Ys royalty interest in any oil or…
2Cases cited8 opinions
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Helvering v. HorstSupreme Court of the United States · 1940
- Blair v. CommissionerSupreme Court of the United States · 1937
- Helvering v. EubankSupreme Court of the United States · 1941
- American United Mutual Life Insurance v. City of Avon ParkSupreme Court of the United States · 1940
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3Cited by4 opinions
- Wood Harmon Corporation v. United StatesCourt of Appeals for the Second Circuit · 1963
- J. C. Williamson, Transferee of Williamson Well Service, Inc., a Dissolved Corporation v. United StatesUnited States Court of Claims · 1961
- Commissioner of Internal Revenue v. Henry Hess Co. Henry Hess Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1954
- Cummins Diesel Sales of Colorado Co. v. United StatesDistrict Court, D. Colorado · 1967