Central Loan & Inv. Co. v. Commissioner
United States Board of Tax Appeals
During 1921, 1922, and 1923 taxpayer paid certain county taxes under protest and deducted the amounts paid in computing his taxable income for those years. The 1921 and 1922 deductions reduced the amount of his taxable income for those years. He derived no benefit from the deduction taken in 1923. In 1932 the statute under which the taxes were paid was held to be unconstitutional and the taxes previously paid were refunded.
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During 1921, 1922, and 1923 taxpayer paid certain county taxes under protest and deducted the amounts paid in computing his taxable income for those years. The 1921 and 1922 deductions reduced the amount of his taxable income for those years. He derived no benefit from the deduction taken in 1923. In 1932 the statute under which the taxes were paid was held to be unconstitutional and the taxes previously paid were refunded. Held, the amount of the refund is includable in taxpayer's income for 1932 only to the extent that he benefited from the deductions taken in the prior years.
1Opinion of the Court
CENTRAL LOAN AND INVESTMENT COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Central Loan & Inv. Co. v. Commissioner
Docket No. 82565.
United States Board of Tax Appeals
39 B.T.A. 981; 1939 BTA LEXIS 938;
May 24, 1939, Promulgated
During 1921, 1922, and 1923 taxpayer paid certain county taxes under protest and deducted the amounts paid in computing his taxable income for those years. The 1921 and 1922 deductions reduced the amount of his taxable income for those years. He derived no benefit from the deduction taken in 1923. In 1932 the statute under which the taxes were paid…
2Cases cited9 opinions
- Burnet v. Sanford & Brooks Co.Supreme Court of the United States · 1931
- Block v. CommissionerUnited States Board of Tax Appeals · 1939
- Central Loan & Inv. Co. v. CommissionerUnited States Board of Tax Appeals · 1939
- Houbigant, Inc. v. CommissionerUnited States Board of Tax Appeals · 1934
- Victoria Paper Mills Co. v. CommissionerUnited States Board of Tax Appeals · 1935
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