Lewyt Corp. v. Commissioner
United States Tax Court
Held, the phrase "paid or accrued" as used in section 122 (d) (6) of the Internal Revenue Code has reference to the system of accounting used by the taxpayer; held, further, amounts tendered to the collector in 1947 by taxpayer as payment of additional excess profits taxes for 1943, 1944, and 1945 were not deductible in 1947.
1Opinion of the Court
OPINION.
Tietjens, Judge:
As we understand it, from opening statements of counsel and the briefs filed herein, the question upon which disposition of most of the issues herein depends is the construction of the words “paid or accrued within the taxable year” as they appear in section 122 (d) (6) quoted in the footnote.1 The “rules” referred to in that section are not material to the issue except as may be indicated hereafter. The taxes imposed by subchapter E of chapter 2 are “excess profits taxes” and that term will.be used for convenience. The question is urged by taxpayer as one of first…
2Cases cited8 opinions
- Dixie Pine Products Co. v. CommissionerSupreme Court of the United States · 1944
- Rosenman v. United StatesSupreme Court of the United States · 1945
- Lehigh v. R. Co. v. CommissionerUnited States Tax Court · 1949
- Commissioner of Internal Revenue v. Clarion Oil Co.Court of Appeals for the D.C. Circuit · 1945
- Chestnut Securities Co. v. United StatesUnited States Court of Claims · 1945
3 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Lewyt Corp. v. CommissionerSupreme Court of the United States · 1955
- Lewyt Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1954
- Diamond A Cattle Co. v. CommissionerUnited States Tax Court · 1953
- Keith v. CommissionerUnited States Tax Court · 1961
- Perkins v. CommissionerUnited States Tax Court · 1989
24 more not listed; retrieve them via the Exa API.