Legal Opinion
Cleaver v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided December 3, 1946No. 9132PublishedCited by 51 opinions
1Opinion of the Court
LINDLEY, District Judge.
Petitioner, a taxpayer on a cash basis, seeks review of a decision of the Tax Court of the United- States disallowing his deduction from income for interest paid in the year 1941, raising the question whether the interest deducted was paid in that year within the meaning of Section 23(b) of the Internal Revenue Code, 26 U.S.G.A. Int.Rev.Code, § 23(b). Under that section interest paid by a taxpayer accounting on a cash basis is deductible in the year the interest is paid.
In 1941 the taxpayer gave to his bank promissory notes for $68,950, due at the end of five years.…
2Cases cited12 opinions
- McGoldrick v. Berwind-White Coal Mining Co.Supreme Court of the United States · 1940
- Eckert v. BurnetSupreme Court of the United States · 1931
- United States v. MitchellSupreme Court of the United States · 1926
- Fleckner v. President of the Bank of the United StatesSupreme Court of the United States · 1823
- Helvering v. PriceSupreme Court of the United States · 1940
7 more not listed; retrieve them via the Exa API.
3Cited by51 opinions
- Don E. Williams Co. v. CommissionerSupreme Court of the United States · 1977
- Nat Harrison Assoc., Inc. v. CommissionerUnited States Tax Court · 1964
- Goodstein v. CommissionerUnited States Tax Court · 1958
- G. Douglas Burck and Marjorie W. Burck v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1976
- Burck v. CommissionerUnited States Tax Court · 1975
46 more not listed; retrieve them via the Exa API.