American Cent. Life Ins. Co. v. Commissioner
United States Board of Tax Appeals
1. An "insured's personal benefit fund" consisting of contributions by policyholders with fixed interest contributed by the insurance company, the fund to be distributed among the surviving persistent policyholders as provided by the insurance policy, sanctioned and required by state law and regulation, held a "reserve required by law" under the revenue acts. 2. Premium reduction coupon policy reserves held reserves required by law. 3. The statutory rental value of space…
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1. An "insured's personal benefit fund" consisting of contributions by policyholders with fixed interest contributed by the insurance company, the fund to be distributed among the surviving persistent policyholders as provided by the insurance policy, sanctioned and required by state law and regulation, held a "reserve required by law" under the revenue acts. 2. Premium reduction coupon policy reserves held reserves required by law. 3. The statutory rental value of space occupied by an insurance company in its own building must be included in gross income as a condition to the deduction of…
1Opinion of the Court
AMERICAN CENTRAL LIFE INSURANCE COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
American Cent. Life Ins. Co. v. Commissioner
Docket Nos. 30133, 31998, 56024, 63436.
United States Board of Tax Appeals
30 B.T.A. 1182; 1934 BTA LEXIS 1208;
July 17, 1934, Promulgated
1. An "insured's personal benefit fund" consisting of contributions by policyholders with fixed interest contributed by the insurance company, the fund to be distributed among the surviving persistent policyholders as provided by the insurance policy, sanctioned and required by state law and regulation, held a…
2Cases cited1 opinion
- American Cent. Life Ins. Co. v. CommissionerUnited States Board of Tax Appeals · 1934