Legal Opinion
De Kalb Trust & Savings Bank v. United States
Court of Appeals for the Seventh Circuit
Decided March 3, 1958No. 12168_1PublishedCited by 3 opinions
1Opinion of the Court
HASTINGS, Circuit Judge.
This is an appeal from a judgment of the district court denying recovery of $7937.43 income tax alleged to have been erroneously assessed against the taxpayer for the year 1946. The facts were stipulated and included in the court’s findings, and the errors relied upon arise out of conclusions of law based thereon.
Taxpayer 1 is a banking corporation carrying on a general banking business in DeKalb, Illinois. By reason of economic conditions, on March 3, 1933, agreements were entered into between taxpayer and its depositors whereby 60 per cent of the amount of the…
2Cases cited4 opinions
- Farmers & Merchants Bank v. Commissioner of Int. Rev.Court of Appeals for the Eighth Circuit · 1949
- Clinton Trust Co. v. United StatesUnited States Court of Claims · 1943
- Kavanagh v. First Nat. BankCourt of Appeals for the Sixth Circuit · 1943
- New Jersey Title Guarantee & Trust Co. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1950
3Cited by3 opinions
- United States v. Bank of Leipsic CompanyCourt of Appeals for the Sixth Circuit · 1959
- Bank of Leipsic Company v. United StatesCourt of Appeals for the Sixth Circuit · 1961
- Exchange & Savings Bank of Berlin v. United StatesDistrict Court, D. Maryland · 1965