St. Louis Mut. Life Ins. Co. v. Commissioner
United States Board of Tax Appeals
1. JURISDICTION - SECTIONS 1005(A) OF THE REVENUE ACT OF 1926 AND 1101(A) AND (B) OF THE REVENUE ACT OF 1932. - Where more than three months have elapsed since the entry of a decision of this Board but a motion was properly filed within that period to vacate such decision, held, the Board is not functus officio as to such motion and can vacate or modify such decision. 2. DEDUCTIONS. - LIFE INSURANCE COMPANIES. - Section 245(b) OF THE REVENUE ACT OF 1926. - Where life…
Read the full summary
1. JURISDICTION - SECTIONS 1005(A) OF THE REVENUE ACT OF 1926 AND 1101(A) AND (B) OF THE REVENUE ACT OF 1932. - Where more than three months have elapsed since the entry of a decision of this Board but a motion was properly filed within that period to vacate such decision, held, the Board is not functus officio as to such motion and can vacate or modify such decision. 2. DEDUCTIONS. - LIFE INSURANCE COMPANIES. - Section 245(b) OF THE REVENUE ACT OF 1926. - Where life insurance company did not include in gross income for the taxable year the rental value of space in buildings owned and…
1Opinion of the Court
OPINION.
Leech:
This proceeding seeks redetermination of a deficiency of $1,12T.51 asserted by respondent for the calendar year 1929. The facts are that petitioner, a life insurance company with home office at St. Louis, Missouri, owned at the close of the calendar year 1929, the building in which its home office was located, this building on that date having a cost of $112,500. For that year the rents from tenants amounted to $750, taxes paid amounted to $1,573.65, and the expense of operating and maintaining the building during the year was $5,555.30. A reasonable allowance for depreciation…
2Cases cited7 opinions
- Helvering v. Independent Life InsuranceSupreme Court of the United States · 1934
- Rockford Life Insurance v. CommissionerSupreme Court of the United States · 1934
- Independent Life Ins. Co. v. CommissionerUnited States Board of Tax Appeals · 1929
- Garden City Feeder Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- United Tel. Co. v. CommissionerUnited States Board of Tax Appeals · 1925
2 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Denholm & McKay Co. v. Commissioner of Int. Rev.Court of Appeals for the First Circuit · 1942
- De Nobili Cigar Co. v. CommissionerUnited States Tax Court · 1944
- St. Louis Mut. Life Ins. Co. v. CommissionerUnited States Board of Tax Appeals · 1934