Ann Arbor R.R. v. Commissioner
United States Board of Tax Appeals
1. The guaranty income received by a carrier under section 209 of the Transportation Act, 1920, is taxable under the Revenue Act of 1918 at 10 percent. 2. The allowance made by the Director General for undermaintenance during Federal control must be subtracted from the total maintenance expenditure for 1920 to determine the carrier's deduction for maintenance expense.
1Opinion of the Court
*339OPINION.
SteRnhagen :
As shown in the preliminary statement, several of the assignments of error have been removed from controversy. The adjustment of these matters will be reflected in the final judgment. The matters at issue are considered in this opinion under Roman numerals which are correlated to the findings of fact.
I
The issue covered by the second assignment is the propriety of including the sp-oalled guaranty income received from the United *340States, by virtue of section 209 (c) of the Transportation Act, 1920, within petitioners’ taxable income. In view of Texas & Pacific Ry. Co. v.…
2Cases cited11 opinions
- United States v. Kirby Lumber CoSupreme Court of the United States · 1931
- Continental Tie & Lumber Co. v. United StatesSupreme Court of the United States · 1932
- United States v. FlannerySupreme Court of the United States · 1925
- Texas & Pacific Ry. Co. v. United StatesSupreme Court of the United States · 1932
- Missouri Pac. R.R. v. CommissionerUnited States Board of Tax Appeals · 1931
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3Cited by3 opinions
- Baltimore & O. R. Co. v. CommissionerUnited States Board of Tax Appeals · 1934
- Ann Arbor R.R. v. CommissionerUnited States Board of Tax Appeals · 1933
- Baltimore & O. R. Co. v. CommissionerUnited States Board of Tax Appeals · 1934