Mutual Sav. & Loan Co. v. Commissioner
United States Board of Tax Appeals
The petitioner is a Virginia industrial loan association whose business during the years 1936 and 1937 consisted entirely of receiving deposits and making loans and discounts. Held, that it is a "bank" within the meaning of section 104(a) of the Revenue Act of 1936.
1Opinion of the Court
MUTUAL SAVINGS AND LOAN COMPANY, INC., OF NORFOLK, PETITIONER, v. Commissioner of Internal Revenue, Respondent.
Mutual Sav. & Loan Co. v. Commissioner
Docket No. 101321.
United States Board of Tax Appeals
44 B.T.A. 1204; 1941 BTA LEXIS 1214;
August 8, 1941, Promulgated
The petitioner is a Virginia industrial loan association whose business during the years 1936 and 1937 consisted entirely of receiving deposits and making loans and discounts. Held, that it is a "bank" within the meaning of section 104(a) of the Revenue Act of 1936.
James Mann, Esq., for the petitioner.
Lloyd W. Creason, Esq., for the…
2Cases cited4 opinions
- United States v. PelzerSupreme Court of the United States · 1941
- United States v. Cambridge Loan & Building Co.Supreme Court of the United States · 1928
- Mutual Sav. & Loan Co. v. CommissionerUnited States Board of Tax Appeals · 1941
- McCarter v. Imperial Trustee Co.Supreme Court of New Jersey · 1905