Allstate Fire Ins. Co. v. Commissioner
United States Tax Court
Held, that petitioner, a casualty insurance company, may deduct the prorata portion of its investment expenses attributable to items of interest and dividends which are themselves deducted from gross income in computing taxable income.
1Opinion of the Court
Allstate Fire Insurance Company, Petitioner v. Commissioner of Internal Revenue, Respondent
Allstate Fire Ins. Co. v. Commissioner
Docket No. 4812-64
United States Tax Court
47 T.C. 237; 1966 U.S. Tax Ct. LEXIS 13;
December 2, 1966, Filed
Decision will be entered under Rule 50.
Held, that petitioner, a casualty insurance company, may deduct the prorata portion of its investment expenses attributable to items of interest and dividends which are themselves deducted from gross income in computing taxable income.
Charles W. Davis, William A. Cromartie, and Lawrence M. Dubin, for the petitioner.
Nelson E.…
Also in this document: Concurrence.
2Cases cited10 opinions
- Commissioner v. BrownSupreme Court of the United States · 1965
- United States v. Atlas Life Insurance Co.Supreme Court of the United States · 1965
- Pink v. United StatesCourt of Appeals for the Second Circuit · 1939
- United States v. Home Title InsuranceSupreme Court of the United States · 1932
- Royal Ins. Co. v. CommissionerUnited States Board of Tax Appeals · 1938
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