Havana Elec. Ry., Light & Power Co. v. Commissioner
United States Board of Tax Appeals
The petitioner, a New Jersey corporation, paid taxes to the Municipality and Province of Havana, Cuba, upon its net profits derived from the operation of gas works and electric light plants in Cuba.
Read the full summary
The petitioner, a New Jersey corporation, paid taxes to the Municipality and Province of Havana, Cuba, upon its net profits derived from the operation of gas works and electric light plants in Cuba. In its returns for the tax years in question the petitioner claimed the taxes paid as credits against income tax due the United States, credit being claimed under section 238(a) of the Revenue Acts of 1918, 1921, 1924, and 1926. The respondent disallowed these credits, but allowed the amounts paid as deductions from gross income. Held, that the amounts paid are valid credits against taxed due the…
1Opinion of the Court
*784OPINION.
Smith :
Section 238 (a) of the Revenue Act of 1918 provides:
That in the case of a, domestic corporation the total taxes imposed for the taxable year by this title and by Title III shall be credited with the amount of *785any income, war-profits and excess-profits taxes paid during the taxable year to any foreign country, upon income derived from sources therein, or to any possession of the United States.
Section 238 (a) of each of the Revenue Acts of 1921, 1924, and 1926 is the same in substance.
The purposes of section 238 (a) of the taxing statutes referred to above have been fully…
2Cases cited4 opinions
- Flint v. Stone Tracy Co.Supreme Court of the United States · 1911
- Burnet v. Chicago Portrait Co.Supreme Court of the United States · 1932
- Spreckels Sugar Refining Co. v. McClainSupreme Court of the United States · 1904
- Security Savings & Commercial Bank v. District of ColumbiaCourt of Appeals for the D.C. Circuit · 1922
3Cited by4 opinions
- New York & H. Rosario Min. Co. v. Commissioner of Int. Rev.Court of Appeals for the Second Circuit · 1948
- Rupert Brent Johnson and Ada Marie Johnson v. Leroy Quinn, Commissioner, Department of Finance Government of the Virgin IslandsCourt of Appeals for the Third Circuit · 1987
- Havana Elec. Ry., Light & Power Co. v. CommissionerUnited States Board of Tax Appeals · 1936
- Seatrain Lines v. CommissionerUnited States Board of Tax Appeals · 1942