Davison-Joseph Campau Realty Co. v. Commissioner (A)
United States Board of Tax Appeals
1. For the purposes of the credit provided by section 26(c)(1) of the Revenue Act of 1936, a corporate bylaw is not a "written contract executed by the corporation." 2. Petitioner may deduct from gross income the actual amount of interest accrued on its indebtedness for the taxable year, despite a deduction of a lesser amount in its return.
1Opinion of the Court
DAVISON-JOSEPH CAMPAU REALTY COMPANY, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Davison-Joseph Campau Realty Co. v. Commissioner (A)
Docket No. 97366.
United States Board of Tax Appeals
41 B.T.A. 675; 1940 BTA LEXIS 1151;
March 29, 1940, Promulgated
1. For the purposes of the credit provided by section 26(c)(1) of the Revenue Act of 1936, a corporate bylaw is not a "written contract executed by the corporation."
2. Petitioner may deduct from gross income the actual amount of interest accrued on its indebtedness for the taxable year, despite a deduction of a lesser amount in…
2Cases cited1 opinion
- Davison-Joseph Campau Realty Co. v. Commissioner (A)United States Board of Tax Appeals · 1940