Volckening, Inc. v. Commissioner
United States Tax Court
In the taxable years 1943 and 1944, petitioner claimed as deductions payments made to a pension trust established for the benefit of its employees. The respondent disallowed the total amounts claimed in each of the respective years.
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In the taxable years 1943 and 1944, petitioner claimed as deductions payments made to a pension trust established for the benefit of its employees. The respondent disallowed the total amounts claimed in each of the respective years. Held, petitioner's pension plan qualifies as a tax-exempt trust under the provisions of section 165 (a) of the Internal Revenue Code as amended by the Revenue Act of 1942, and the contributions made thereto constitute allowable deductions to the extent provided in section 23 (p) of the Internal Revenue Code as amended by the Revenue Act of 1942.
1Opinion of the Court
OPINION.
Leech, Judge:
The question presented is whether petitioner is entitled to deduct the amounts of $8,649.73 and $9,417.72 in the respective taxable years 1943 and 1944 as contributions to an employees’ pension trust.
By the Eevenue Act of 1942, Congress forbade any such deductions except as provided in section 23 (p) of the Internal Eevenue Code, as amended by that act. With respect to taxable years beginning after December 31, 1941, contributions by an employer to a pension trust for the benefit of his employees are deductible to the extent prescribed in section 23 (p), if the pension…
2Cases cited1 opinion
- Saalfield Pub. Co. v. CommissionerUnited States Tax Court · 1948
3Cited by14 opinions
- H. S. D. Co. v. Kavanagh, Collector of Internal RevenueCourt of Appeals for the Sixth Circuit · 1951
- United States v. Arthur R. Kintner and Alyce KintnerCourt of Appeals for the Ninth Circuit · 1954
- Pepsi-Cola Niagara Bottling Corp. v. CommissionerUnited States Tax Court · 1967
- Ryan School Retirement Trust v. CommissionerUnited States Tax Court · 1955
- John Duguid & Sons, Inc. v. United StatesDistrict Court, N.D. New York · 1967
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