Legal Opinion
World Airways, Inc., and World Air Center, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided November 15, 1977No. 75-2176PublishedCited by 40 opinions
1Opinion of the Court
J. BLAINE ANDERSON, Circuit Judge:
This is an appeal from a decision of the Tax Court, reported at 62 T.C. 786 (September 18, 1974), and involves two issues.
The first issue involves the question of when World Airways can deduct certain engine and airframe overhaul expenses. The Tax Court held that the only proper year to deduct these expenses was in the same year the overhaul and consequent expenses were actually incurred. See 62 T.C. 789-805.
The second issue is whether or not World Airways is entitled to a 7% investment credit for the purchase of an Aero Commander Jet Aircraft which it leased…
2Cases cited5 opinions
- Photo-Sonics, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1966
- World Airways, Inc. v. CommissionerUnited States Tax Court · 1974
- George A. And Meryl Collman v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1975
- Ralph Penn v. Commissioner of Internal Revenue, Albert Penn v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- Myrna Myron v. United StatesCourt of Appeals for the Ninth Circuit · 1977
3Cited by40 opinions
- Norfolk Southern Corp. v. CommissionerUnited States Tax Court · 1995
- Ridder v. CommissionerUnited States Tax Court · 1981
- Xerox Corp. v. United StatesUnited States Court of Claims · 1981
- Burlington N. R. Co. v. CommissionerUnited States Tax Court · 1984
- Burnham Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1989
35 more not listed; retrieve them via the Exa API.