Castner Garage, Ltd. v. Commissioner
United States Board of Tax Appeals
GROSS INCOME - EXEMPTION - COMPENSATION FOR INJURY OR SICKNESS. - The exemption allowed in sections 22(b)(5) of the Revenue Acts of 1934 and 1936, of amounts received through accident or health insurance as compensation for personal injuries or sickness, is not limited to the insured or to individual taxpayers other than the insured, but includes corporations which have insurable interests.
1Opinion of the Court
CASTNER GARAGE, LIMITED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
UNIVERSAL MOTOR COMPANY, LIMITED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
ISLAND SECURITIES, LIMITED, A DISSOLVED CORPORATION, J. W. A. BAIRD, TRUSTEE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Castner Garage, Ltd. v. Commissioner
Docket Nos. 98502, 98503, 99082, 99752.
United States Board of Tax Appeals
43 B.T.A. 1; 1940 BTA LEXIS 862;
December 4, 1940, Promulgated
GROSS INCOME - EXEMPTION - COMPENSATION FOR INJURY OR SICKNESS. - The exemption allowed in sections 22(b)(5) of…
2Cases cited1 opinion
- Castner Garage, Ltd. v. CommissionerUnited States Board of Tax Appeals · 1940