Legal Opinion
United States v. Robert Rutherford Bond and Margaret E. Bond
Court of Appeals for the Fifth Circuit
Decided July 18, 1958No. 16954_1PublishedCited by 36 opinions
1Opinion of the Court
John R. BROWN, Circuit Judge.
The question here is whether amounts paid by Taxpayer to a Texas life insurance company under an Annuity Savings Bond and Annuity Loan Note were deductible as interest under Section 23(b) of the Internal Revenue Code1 of 1939. In the suit for refund, the District Court held for the Taxpayer.
The facts are uncontradicted and were largely stipulated. The Taxpayer in December 1952 purchased2 from the Sam Houston Life Insurance Company (in Texas) a single-premium, thirty-year maturity, Annuity Savings Bond of a stated guaranteed cash value of $209,700 at maturity at a…
2Cases cited2 opinions
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Old Colony Railroad v. CommissionerSupreme Court of the United States · 1932
3Cited by36 opinions
- Knetsch v. United StatesSupreme Court of the United States · 1960
- Carl E. Weller and Emily I. Weller v. Commissioner of Internal Revenue, W. Stuart Emmons v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1959
- Emmons v. CommissionerUnited States Tax Court · 1958
- Joseph H. Bridges and Lillier J. Bridges v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1963
- Stanton v. CommissionerUnited States Tax Court · 1960
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