Aston v. Comm'r
United States Tax Court
On July 5, 1991, banking regulators seized the assets of the Bank of Commerce and Credit International, S.A. (BCCI, S.A.), including funds that petitioner (a United Kingdom citizen and U.S. resident) deposited at BCCI, S.A.'s Isle of Man branch (IOMB). Petitioner's account was insured for loss up to 15,000 pounds sterling by the Isle of Man Depositor's Compensation Scheme. Petitioner filed a claim against BCCI, S.A. for her funds.
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On July 5, 1991, banking regulators seized the assets of the Bank of Commerce and Credit International, S.A. (BCCI, S.A.), including funds that petitioner (a United Kingdom citizen and U.S. resident) deposited at BCCI, S.A.'s Isle of Man branch (IOMB). Petitioner's account was insured for loss up to 15,000 pounds sterling by the Isle of Man Depositor's Compensation Scheme. Petitioner filed a claim against BCCI, S.A. for her funds. At all relevant times BCCI, S.A. maintained an agency office in Los Angeles. Petitioner deducted $ 185,493.79 as a loss from an insolvent financial institution…
1Opinion of the Court
JOYCE ASTON, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.
Aston v. Comm'r
Tax Ct. Dkt. No. 26105-95
United States Tax Court
109 T.C. 400; 1997 U.S. Tax Ct. LEXIS 71; 109 T.C. No. 18;
December 4, 1997, Filed
Decision will be entered for respondent.
On July 5, 1991, banking regulators seized the assets of the Bank of Commerce and Credit International, S.A. (BCCI, S.A.), including funds that petitioner (a United Kingdom citizen and U.S. resident) deposited at BCCI, S.A.'s Isle of Man branch (IOMB). Petitioner's account was insured for loss up to 15,000 pounds sterling by the Isle of Man…
2Cases cited11 opinions
- Herbert W. Dustin and Kathleen C. Dustin v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1972
- Dustin v. CommissionerUnited States Tax Court · 1969
- Dallmeyer v. CommissionerUnited States Tax Court · 1950
- Crown v. CommissionerUnited States Tax Court · 1981
- Fox v. CommissionerUnited States Tax Court · 1968
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