Legal Opinion
United States v. Texas Mexican Railway Company
Court of Appeals for the Fifth Circuit
Decided January 30, 1959No. 17275PublishedCited by 12 opinions
1Opinion of the Court
WISDOM, Circuit Judge.
This appeal turns on the tax ef-feet of a deposit in escrow of funds as security for the execution of a supersedeas bond in order to perfect the taxpayer’s appeal from an adverse judgment in a suit for personal injuries. The taxpayer contends that deposit in escrow is equivalent to payment of the judgment and that the amount of the judgment may be deducted by a taxpayer on an accrual basis in the year in which the deposit was made. The district court held for the taxpayer. We reverse, on the ground that the deduction may be accrued only in the year in which the…
2Cases cited13 opinions
- Security Flour Mills Co. v. CommissionerSupreme Court of the United States · 1944
- Dixie Pine Products Co. v. CommissionerSupreme Court of the United States · 1944
- Continental Tie & Lumber Co. v. United StatesSupreme Court of the United States · 1932
- Texas Mexican R. Co. v. BunnCourt of Appeals of Texas · 1953
- Becker Bros. v. United StatesCourt of Appeals for the Second Circuit · 1925
8 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Commissioner of Internal Revenue v. Fifth Avenue Coach Lines, Inc., Fifth Avenue Coach Lines, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1960
- In Re Hudson Oil Co., Inc.United States Bankruptcy Court, D. Kansas · 1988
- Space Controls, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1963
- William S. Gillis, and Loretta L. Gillis v. United States of America, United States of America v. William S. Gillis, and Loretta L. GillisCourt of Appeals for the Fifth Circuit · 1968
- Thompson v. CommissionerCourt of Appeals for the Sixth Circuit · 1985
7 more not listed; retrieve them via the Exa API.