Legal Opinion
Santa Monica Mountain Park Co. v. United States
District Court, S.D. California
Decided August 17, 1937No. 7368-YPublishedCited by 2 opinions
1Opinion of the Court
YANKWICH, District Judge.
The plaintiff, seeks to recover $148,500 income taxes for the taxable year 1927, *211which it alleges were erroneously paid by it, and were illegally assessed and collected.
The question which calls for the determination is whether the Commissioner abused his discretion in refusing to allow a deduction of $1,100,000 for the year 1926 on account of the partial worthlessness of the bonds of the Minaret & Western Railroad Company, a subsidiary corporation, engaged chiefly in hauling lumber for another subsidiary, the Sugar Pine Lumber Company. Bonds of a face value of…
2Cases cited14 opinions
- United States v. Jefferson Electric Manufacturing Co.Supreme Court of the United States · 1934
- Avery v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1927
- Tracy v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1931
- Stranahan v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1930
- Fairless v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1933
9 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Robert Lee Korte v. United StatesCourt of Appeals for the Ninth Circuit · 1959
- Freeman-Dent-sullivan Co. v. United StatesDistrict Court, M.D. Georgia · 1938