Alex v. Commissioner
United States Tax Court
Petitioner James Alex, an agent selling life insurance on a commission basis, paid rebates or gave discounts to purchasers of policies. Held, since petitioner was not the seller of the insurance, the rebates or discounts are not adjustments to the purchase price excludable from gross income but deductions from gross income precluded by sec. 162(c), I.R.C. 1954. Schiffman v. Commissioner, 47 T.C. 537 (1967), overruled.
1Opinion of the Court
James Alex and Betty Jean Alex, Petitioners v. Commissioner of Internal Revenue, Respondent
Alex v. Commissioner
Docket No. 10458-75
United States Tax Court
70 T.C. 322; 1978 U.S. Tax Ct. LEXIS 114;
May 24, 1978, Filed
Decision will be entered for the respondent.
Petitioner James Alex, an agent selling life insurance on a commission basis, paid rebates or gave discounts to purchasers of policies. Held, since petitioner was not the seller of the insurance, the rebates or discounts are not adjustments to the purchase price excludable from gross income but deductions from gross income precluded by sec.…
Also in this document: Concurrence; Dissent · Raum; Dissent · Quealy; Dissent · Goffe; Dissent · Chabot.
2Cases cited19 opinions
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Helvering v. HallockSupreme Court of the United States · 1940
- Commissioner v. WilcoxSupreme Court of the United States · 1946
- Edwards v. SlocumSupreme Court of the United States · 1924
- Tank Truck Rentals, Inc. v. CommissionerSupreme Court of the United States · 1958
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