Legal Opinion
Farmville Oil & Fertilizer Co. v. Commissioner
Court of Appeals for the Fourth Circuit
Decided June 3, 1935No. 3826PublishedCited by 14 opinions
1Opinion of the Court
SOPER, Circuit Judge.
The Board of Tax Appeals affirmed a determination by the Commissioner of Internal Revenue of a deficiency of $1,885.97 in the income of the taxpayer for the fiscal year ending July 31, 1930; and this conclusion is assailed on the ground that the Commissioner disallowed a deduction from gross income of $20,859.70 out of $21,545.42 claimed as a reserve for “inactive- contingencies.” The taxpayer contends that the deduction should have been allowed under the terms of section 23 of the Revenue Act of 1928, 45 Stat. 791 (26 USCA § 2023), which provides that, in computing net…
2Cases cited6 opinions
- Burnet v. Sanford & Brooks Co.Supreme Court of the United States · 1931
- Brown v. HelveringSupreme Court of the United States · 1934
- O'Gorman & Young, Inc. v. Hartford Fire Ins. Co.Supreme Court of the United States · 1931
- Rhode Island Hospital T. Co. v. COM'NR. OF INTERNAL REVENUECourt of Appeals for the First Circuit · 1928
- Peyton Du-Pont Securities Co. v. Commissioner of Int. Rev.Court of Appeals for the Second Circuit · 1933
1 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- James A. Messer Co. v. CommissionerUnited States Tax Court · 1972
- Roanoke Vending Exchange, Inc. v. CommissionerUnited States Tax Court · 1963
- Rio Grande Bldg. & Loan Ass'n v. CommissionerUnited States Tax Court · 1961
- Burbank Liquidating Corp. v. CommissionerUnited States Tax Court · 1963
- Investors Discount Corp. v. CommissionerUnited States Tax Court · 1967
9 more not listed; retrieve them via the Exa API.