Legal Opinion
Ensley Bank & Trust Co. v. United States
Court of Appeals for the Fifth Circuit
Decided April 10, 1946No. 11465PublishedCited by 3 opinions
1Opinion of the Court
SIBLEY, Circuit Judge.
Ensley Bank & Trust Company, as taxpayer, made income tax returns on the actual receipts and disbursements basis, claiming in 1933 and 1934 deductions on account of a partial charge-off in each year as worthless of a note due by the defunct Ensley National Bank for an original principal of $355,080.63. The deductions were disallowed, additional taxes were assessed and paid, refund denied, and suit brought in the District Court to recover the additional taxes. The court allowed a recovery touching some matters, but held the Commissioner had not abused his discretion in…
2Cases cited4 opinions
- Commissioner of Internal Revenue v. Liberty Bank & Trust Co.Court of Appeals for the Sixth Circuit · 1932
- Stranahan v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1930
- Olympia Harbor Lumber Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1935
- Ross v. COMMISSIONER OF INTERNAL REVENUECourt of Appeals for the Seventh Circuit · 1934
3Cited by3 opinions
- Commissioner of Internal Revenue v. Maurice L. KillianCourt of Appeals for the Fifth Circuit · 1963
- Elton Brimberry and Estate of Norma Louise Brimberry, Deceased, Elton Brimberry, Independent v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1979
- Inco Electroenergy Corp. v. CommissionerUnited States Tax Court · 1987