Archbold v. Commissioner
United States Board of Tax Appeals
1. The amount allowable as a deduction under section 403(a)(2) of the Revenue Act of 1921 should not be reduced by the amount allowable as deductions under section 403(a)(1) and (3) or any part thereof where one bank account is maintained in which is deposited funds received from the sale of prior-taxed property and funds received from other sources and payments are made therefrom which give rise to the deductions under section 403(a)(1) and (3), provided the latter funds…
Read the full summary
1. The amount allowable as a deduction under section 403(a)(2) of the Revenue Act of 1921 should not be reduced by the amount allowable as deductions under section 403(a)(1) and (3) or any part thereof where one bank account is maintained in which is deposited funds received from the sale of prior-taxed property and funds received from other sources and payments are made therefrom which give rise to the deductions under section 403(a)(1) and (3), provided the latter funds are always sufficient to pay the amounts which are allowable as deductions under section 403(a)(1) and (3). 2. The value…
1Opinion of the Court
JOHN F. ARCHBOLD, EXECUTOR, ESTATE OF ANNIE M. DUSTIN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Archbold v. Commissioner
Docket No. 8629.
United States Board of Tax Appeals
8 B.T.A. 919; 1927 BTA LEXIS 2781;
October 21, 1927, Promulgated
1. The amount allowable as a deduction under section 403(a)(2) of the Revenue Act of 1921 should not be reduced by the amount allowable as deductions under section 403(a)(1) and (3) or any part thereof where one bank account is maintained in which is deposited funds received from the sale of prior-taxed property and funds received from other…
2Cases cited15 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Gould v. GouldSupreme Court of the United States · 1917
- United States v. PhellisSupreme Court of the United States · 1921
- Southern Pacific Co. v. LoweSupreme Court of the United States · 1918
- Gibbons v. MahonSupreme Court of the United States · 1890
10 more not listed; retrieve them via the Exa API.