Legal Opinion
General Bancshares Corporation v. Commissioner of Internal Revenue
Court of Appeals for the Eighth Circuit
Decided January 28, 1964No. 17313PublishedCited by 59 opinions
1Opinion of the Court
BLACKMUN, Circuit Judge.
The Tax Court has held that certain 1957 costs incurred by General Bancshares Corporation in issuing non-taxable stock dividends are not deductible as ordinary and necessary business ex penses under § 162(a) of the Internal Revenue Code of 1954, 26 U.S.C.A. § 162 (a). Judge Scott’s opinion, not reviewed by the full court, is reported at 39 T.C. 423. The taxpayer has petitioned for review.
The facts are stipulated. Bancshares, formerly known as General Contract Corporation, was incorporated in Missouri in 1946. It had outstanding common shares and three classes of par…
2Cases cited40 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Commissioner v. HeiningerSupreme Court of the United States · 1943
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- Interstate Transit Lines v. CommissionerSupreme Court of the United States · 1943
- United States v. International Building Co.Supreme Court of the United States · 1953
35 more not listed; retrieve them via the Exa API.
3Cited by59 opinions
- Indopco, Inc. v. CommissionerSupreme Court of the United States · 1992
- Commissioner v. Lincoln Savings & Loan Ass'nSupreme Court of the United States · 1971
- E. I. Du Pont De Nemours and Company v. United StatesCourt of Appeals for the Third Circuit · 1970
- A.E. Staley Manufacturing Company and Subsidiaries v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1997
- National Starch and Chemical Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1990
54 more not listed; retrieve them via the Exa API.