Halliburton Co. v. Commissioner
United States Tax Court
Petitioner, a calendar year taxpayer, had property expropriated by the government of Iran in 1979. Held, since petitioner had no reasonable prospect of recovery as of Dec. 31, 1979, it was entitled to a deduction for losses sustained during the taxable year.
1Opinion of the Court
Halliburton Co., Petitioner v. Commissioner of Internal Revenue, Respondent
Halliburton Co. v. Commissioner
Docket No. 9797-86
United States Tax Court
93 T.C. 758; 1989 U.S. Tax Ct. LEXIS 157; 93 T.C. No. 61;
December 26, 1989December 26, 1989, Filed
Decision will be entered under Rule 155.
Petitioner, a calendar year taxpayer, had property expropriated by the government of Iran in 1979. Held, since petitioner had no reasonable prospect of recovery as of Dec. 31, 1979, it was entitled to a deduction for losses sustained during the taxable year.
David T. Harvin, Donald F. Wood, David Gerger, and…
2Cases cited27 opinions
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- Dames & Moore v. ReganSupreme Court of the United States · 1981
- Boehm v. CommissionerSupreme Court of the United States · 1945
- William F. Callejo, Individually and as Trustee, and Adelfa B. Callejo, as Trustee v. Bancomer, S.A.Court of Appeals for the Fifth Circuit · 1985
- Ramsay Scarlett & Co. v. CommissionerUnited States Tax Court · 1974
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