Legal Opinion
Northwest Steel Rolling Mills, Inc. v. Commissioner
Court of Appeals for the Ninth Circuit
Decided March 1, 1940No. 9207PublishedCited by 6 opinions
1Opinion of the Court
STEPHENS, Circuit Judge.
This appeal involves the question of the validity of a levy of a surtax under the Revenue Act of 1936 [c. 690, 49 Stat. 1648, 26 U.S.C.A. Int.Rev.Acts] upon the undistributed profits of the taxpayer. The taxpayer contends that it is entitled to a credit under Section 26 of the Act, which reads in part as follows:
“Sec. 26. Credits Of Corporations.
“In the case of a corporation the following credits shall be allowed to the extent provided in the various sections imposing tax— * * *
“(c) Contracts Restricting Payment of Dividends.—
“(1) Prohibition on payment of dividends. —…
2Cases cited6 opinions
- Boyd's Lessee v. GravesSupreme Court of the United States · 1819
- Von Hoffman v. City of QuincySupreme Court of the United States · 1867
- Farmers & Merchants Bank of Monroe v. Federal Reserve Bank of RichmondSupreme Court of the United States · 1923
- Linder v. United StatesSupreme Court of the United States · 1925
- Crane-Johnson Co. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1939
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Helvering v. Northwest Steel Rolling Mills, Inc.Supreme Court of the United States · 1940
- A. M. Pearson v. Denny DennisonCourt of Appeals for the Ninth Circuit · 1965
- Crane-Johnson Co. v. HelveringSupreme Court of the United States · 1940
- Cooperative Pub. Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1940
- Chess & Wymond, Inc. v. GlennDistrict Court, W.D. Kentucky · 1941
1 more not listed; retrieve them via the Exa API.