Legal Opinion
Standard Oil Co. v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided June 12, 1942No. 7816PublishedCited by 45 opinions
1Opinion of the Court
EVANS, Circuit'Judge.
This Federal income tax case is an outgrowth of the “Teapot Dome” leases and litigation, and involves two comparatively narrow issues: (1) The deductibility for the tax year 1930, of a loss, business expense, or bad debt item, allegedly sustained by petitioner, in the sum of $2,906,484.32, which was the amount of a consent judgment entered in a tort suit against petitioner’s wholly-owned subsidiary. (2) The proper basis for the calculation of the depreciation of a certain patent, once of great value.
The Board of Tax Appeals held in Commissioner’s favor on both issues, and…
2Cases cited9 opinions
- Sunshine Anthracite Coal Co. v. AdkinsSupreme Court of the United States · 1940
- Spring City Foundry Co. v. CommissionerSupreme Court of the United States · 1934
- Mammoth Oil Co. v. United StatesSupreme Court of the United States · 1927
- Elmhurst Cemetery Co. of Joliet v. CommissionerSupreme Court of the United States · 1937
- United States v. Mammoth Oil Co.Court of Appeals for the Eighth Circuit · 1926
4 more not listed; retrieve them via the Exa API.
3Cited by45 opinions
- Roberts v. CommissionerUnited States Tax Court · 1974
- Estate of Horvath v. CommissionerUnited States Tax Court · 1973
- Foster v. Comm'rUnited States Tax Court · 1983
- Mayerson v. CommissionerUnited States Tax Court · 1966
- Fuller v. CommissionerUnited States Tax Court · 1953
40 more not listed; retrieve them via the Exa API.