Southern Ry. v. Commissioner
United States Board of Tax Appeals
1. More than four and one-half years prior to the taxable years the Southern Railway Company received certain payments, representing the estimated cost of constructing spur tracks, from individuals and corporations who were to be the beneficiaries of the proposed tracks, under contracts which provided that the railway company would refund such payments, in annual amounts equal to 5 per cent of the revenue accruing to the railway company out of traffic shipped from and to…
Read the full summary
1. More than four and one-half years prior to the taxable years the Southern Railway Company received certain payments, representing the estimated cost of constructing spur tracks, from individuals and corporations who were to be the beneficiaries of the proposed tracks, under contracts which provided that the railway company would refund such payments, in annual amounts equal to 5 per cent of the revenue accruing to the railway company out of traffic shipped from and to said tracks, but in no case was the railway company to make such refund payments for a longer term than four and one-half…
1Opinion of the Court
OPINION.
Tkammell.
The respondent has determined deficiencies in income taxes against the several petitioners for the years and in amounts as follows:
[[Image here]]
*676Nine of the fifteen assignments of error set forth in the petitions and five of the six issues raised by the respondent’s affirmative defense have been disposed of by abandonment, confession, or stipulation. The proceedings were consolidated for hearing and decision.
The parties have filed a written stipulation, the first five paragraphs of which read as follows:
It is hereby stipulated and agreed by and between the petitioner and the…
2Cases cited8 opinions
- Old Colony Railroad v. CommissionerSupreme Court of the United States · 1932
- Burnet v. HoustonSupreme Court of the United States · 1931
- Texas & Pacific Ry. Co. v. United StatesSupreme Court of the United States · 1932
- Columbia Theatre Co. v. CommissionerUnited States Board of Tax Appeals · 1926
- Central Real Estate Co. v. CommissionerUnited States Board of Tax Appeals · 1929
3 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Southern Natural Gas Company v. The United StatesUnited States Court of Claims · 1969
- Dodge Brothers v. United StatesCourt of Appeals for the Fourth Circuit · 1941
- Chesapeake & O. R. Co. v. CommissionerUnited States Tax Court · 1975
- The Montana Power Company v. United StatesCourt of Appeals for the Third Circuit · 1956
- American Smelting & Refining Co. v. United StatesCourt of Appeals for the Third Circuit · 1942
12 more not listed; retrieve them via the Exa API.