Caxton Printers, Ltd. v. Commissioner
United States Board of Tax Appeals
1. PENSION TRUST FUND - REQUIREMENTS FOR DEDUCTIBILITY OF PAYMENTS THERETO UNDER SECTION 23(Q), REVENUE ACT OF 1928. Where petitioner's stockholders and directors in 1929 passed resolutions to create a pension fund to pension its employees and during the taxable year set up as a liability on its books a reserve of $8,000 labeled "Pension Reserve Fund," this book entry was not such a transfer or paying into a pension trust fund as is contemplated by section 23(q), Revenue Act…
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1. PENSION TRUST FUND - REQUIREMENTS FOR DEDUCTIBILITY OF PAYMENTS THERETO UNDER SECTION 23(Q), REVENUE ACT OF 1928. Where petitioner's stockholders and directors in 1929 passed resolutions to create a pension fund to pension its employees and during the taxable year set up as a liability on its books a reserve of $8,000 labeled "Pension Reserve Fund," this book entry was not such a transfer or paying into a pension trust fund as is contemplated by section 23(q), Revenue Act of 1928, to make such amounts deductible. Merrill Trust Co.,21 B.T.A. 1409, followed 2. INSURANCE RESERVE. Where the…
1Opinion of the Court
THE CAXTON PRINTERS, LIMITED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Caxton Printers, Ltd. v. Commissioner
Docket No. 62142.
United States Board of Tax Appeals
27 B.T.A. 1110; 1933 BTA LEXIS 1253;
April 6, 1933, Promulgated
1. PENSION TRUST FUND - REQUIREMENTS FOR DEDUCTIBILITY OF PAYMENTS THERETO UNDER SECTION 23(Q), REVENUE ACT OF 1928. Where petitioner's stockholders and directors in 1929 passed resolutions to create a pension fund to pension its employees and during the taxable year set up as a liability on its books a reserve of $8,000 labeled "Pension Reserve Fund," this…
2Cases cited3 opinions
- Caxton Printers, Ltd. v. CommissionerUnited States Board of Tax Appeals · 1933
- Spring Canyon Coal Co. v. CommissionerUnited States Board of Tax Appeals · 1928
- Merrill Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1931