Legal Opinion
Kentucky River Coal Corporation v. Lucas
District Court, W.D. Kentucky
Decided July 9, 1931No. 1278PublishedCited by 11 opinions
1Opinion of the Court
DAWSON, District Judge.
This is a suit for a refund of income taxes for the year 1923. The whole case hinges on whether or not the so-called debenture stock issued and sold by the plaintiff was,, in fact, capital stock, or represented borrowed money. These securities were sold at 50 per cent, discount. The plaintiff contends that the so-called 6 per cent, dividends on this stock should be treated as interest paid on borrowed money and allowed as a deduction, under section 234 of the Revenue Act of 1921 (42 Stat. 254), and that it was likewise entitled to amortize, over a period of ten years,…
2Cited by11 opinions
- Commissioner of Int. Rev. v. Meridian & Thirteenth R. Co.Court of Appeals for the Seventh Circuit · 1942
- Commissioner of Internal Revenue v. OPP Holding Corp.Court of Appeals for the Second Circuit · 1935
- United States v. Title Guarantee & Trust Co.Court of Appeals for the Sixth Circuit · 1943
- Commissioner of Internal Rev. v. Schmoll Fils AssociatedCourt of Appeals for the Second Circuit · 1940
- Haffenreffer Brewing Co. v. Commissioner of Int. Rev.Court of Appeals for the First Circuit · 1940
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