Citizens Water Works, Inc. v. Commissioner
United States Board of Tax Appeals
The petitioner, a private corporation furnishing water to the city of Litchfield, Illinois, and its inhabitants and industries, under its contract with the city dated March 20, 1924, is not exempt from Federal taxation for the years 1929, 1930, and 1931.
1Opinion of the Court
opinion.
McMahon:
These are proceedings, duly consolidated for hearing and opinion, for the redetermination of deficiencies in income tax for the calendar years 1929, 1930, and 1931 in the respective amounts of $1,721.60, $1,714.95, and $1,394.90.
It is alleged that the respondent erred in “ deducting dividends ” in the years 1929,1930, and 1931 in the respective amounts of $17,340, $16,770, and $16,620, and that he erred in failing to hold petitioner exempt from taxation under the provisions of section 103 (14) of the Revenue Act of 1928. These allegations were denied by respondent. The…
2Cases cited4 opinions
- Flint v. Stone Tracy Co.Supreme Court of the United States · 1911
- Willcutts v. BunnSupreme Court of the United States · 1931
- Fox Film Corp. v. DoyalSupreme Court of the United States · 1932
- Burnet v. A. T. Jergins TrustSupreme Court of the United States · 1933
3Cited by2 opinions
- Citizens Water Works, Inc. v. CommissionerUnited States Board of Tax Appeals · 1935
- Decatur Water Supply Co. v. CommissionerUnited States Board of Tax Appeals · 1936