Legal Opinion
Byerlyte Corporation v. Williams
District Court, N.D. Ohio
Decided January 8, 1959No. Civ. A. 31494PublishedCited by 5 opinions
1Opinion of the Court
McNAMEE, District Judge.
Facts
Plaintiff is an Ohio corporation, and brings this action to recover with interest income and excess profit taxes for the years 1949 and 1950 which were paid under protest.
The principal issue is whether advancements made by plaintiff to its wholly owned subsidiary, Byerlyte Export Company, Ltd. (hereinafter called Ex-, port) were deductible as bad debts under Section 23(k), I.R.C.1939, 26 U.S. C. A. § 23 (k), as claimed by plaintiff, or whether, as contended by defendant, such advances were contributions to capital governed by Section 117, I.R.C.1939, 26 U.S.C.A. §…
2Cases cited22 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Associated Press v. United StatesSupreme Court of the United States · 1945
- John Kelley Co. v. CommissionerSupreme Court of the United States · 1946
- Benjamin D. And Madeline Prentice Gilbert v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- Lawson v. Suwannee Fruit & Steamship Co.Supreme Court of the United States · 1949
17 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Jack Daniel Distillery, Lem Motlow, Prop., Inc. v. The United StatesUnited States Court of Claims · 1967
- Datamation Services, Inc. v. CommissionerUnited States Tax Court · 1976
- Road Materials, Inc. v. CommissionerUnited States Tax Court · 1971
- Stinnett v. CommissionerUnited States Tax Court · 1970
- Stinnett v. CommissionerUnited States Tax Court · 1970