Sand Springs Ry. v. Commissioner
United States Board of Tax Appeals
1. A franchise granted by a city to the petitioner permitted it to extend its railway within the city limits and required it to furnish electricity at prescribed rates. The profits from the operation of the railway belonged to petitioner, the profits from the sale of electricity were required to be paid to a charitable institution. Upon failure to make such payment the entire franchise might be terminated.
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1. A franchise granted by a city to the petitioner permitted it to extend its railway within the city limits and required it to furnish electricity at prescribed rates. The profits from the operation of the railway belonged to petitioner, the profits from the sale of electricity were required to be paid to a charitable institution. Upon failure to make such payment the entire franchise might be terminated. Held, that the payment to the charitable institution was one required to be made as a condition to the continued use of the franchise and deductible under section 234(a)(1) of the Revenue…
1Opinion of the Court
SAND SPRINGS RAILWAY CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT, AND CONSOLIDATED CASES.
Sand Springs Ry. v. Commissioner
Docket Nos. 32438, 32439, 35103, 35104, 35105, 35106, 39959.
United States Board of Tax Appeals
21 B.T.A. 1291; 1931 BTA LEXIS 2217;
January 21, 1931, Promulgated
1. A franchise granted by a city to the petitioner permitted it to extend its railway within the city limits and required it to furnish electricity at prescribed rates. The profits from the operation of the railway belonged to petitioner, the profits from the sale of electricity were required to…
2Cases cited14 opinions
- US Bank v. PLANTERS'BANKSupreme Court of the United States · 1824
- Curran v. ArkansasSupreme Court of the United States · 1853
- Darrington v. Branch of the Bank of AlabamaSupreme Court of the United States · 1852
- Bank of Kentucky v. Wistar, Price, & WistarSupreme Court of the United States · 1830
- United States v. KelloggCourt of Appeals for the Second Circuit · 1921
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