Robbins Tire & Rubber Co. v. Commissioner
United States Tax Court
1. Held, petitioner's payments to the district director during that part of its taxable year preceding its submission of offers in compromise were credited pursuant to the offers upon their acceptance by the Government. 2. Held, further, the discharge of petitioner's interest liabilities by its transferee's payment does not entitle petitioner to an interest deduction. 3. Held, further, this Court has no jurisdiction to determine whether a refund of the overpayment of tax…
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1. Held, petitioner's payments to the district director during that part of its taxable year preceding its submission of offers in compromise were credited pursuant to the offers upon their acceptance by the Government. 2. Held, further, the discharge of petitioner's interest liabilities by its transferee's payment does not entitle petitioner to an interest deduction. 3. Held, further, this Court has no jurisdiction to determine whether a refund of the overpayment of tax made by petitioner is barred. Sec. 6512(b)(1), I.R.C. 1954.
1Opinion of the Court
SUPPLEMENTAL OPINION
FeatheRSTon, Judge:
In the original opinion in this proceeding (52 T.C. 420), promulgated on June 12, 1969, we held (1) that all payments made by petitioner pursuant to the offers in compromise and the collateral agreement should be credited against its tax liabilities in accordance with Rev. Rul. 58-239, 1958-1 C.B. 94, and (2) that the amount of interest deductible by petitioner, an accrual basis taxpayer, was to be measured by the payments it made, because “the amount of interest which is discharged by application of the procedure of Rev. Rul. 58-239, cannot be…
2Cases cited12 opinions
- Helvering v. American Dental Co.Supreme Court of the United States · 1943
- United States Ex Rel. Girard Trust Co. v. HelveringSupreme Court of the United States · 1937
- Guardian Investment Corporation v. Robert L. Phinney, District Director of Internal RevenueCourt of Appeals for the Fifth Circuit · 1958
- Herbert v. RiddellDistrict Court, S.D. California · 1952
- Burlington-Rock Island Railroad Company v. United StatesCourt of Appeals for the Fifth Circuit · 1963
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- Hill v. CommissionerUnited States Tax Court · 1990
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