Swedish Mission Friends' Aid Asso. v. Commissioner
United States Board of Tax Appeals
1. The petitioner is not entitled to exemption from taxation under section 231 of the Revenue Acts of 1918 and 1921. 2. The petitioner is not entitled to any greater deductions on account of additions made to its reserve funds in the years 1920 and 1921 than have been allowed by the respondent.
1Opinion of the Court
*1153OPINION.
Marquette:
The petitioner contends that during the years 1920 and 1921 it was exempt from taxation under section 231(10) of the Revenue Acts of 1918 and 1921, and that if it is not exempt, it is entitled in computing its net income for those years to deduct the amounts of $18,638.46 and $31,523.63 which, as set forth in the findings of fact, it transferred to its reserve fund. The questions raised will be discussed in the order in which they are set forth.
Section 231(10) of the Revenue Acts of 1918 and 1921 provides:
Sec. 231. That the following organizations shall be exempt from…
2Cases cited5 opinions
- Munford v. KeetSupreme Court of Missouri · 1900
- Bankers' & Planters' Mut. Ins. v. WalkerCourt of Appeals for the Eighth Circuit · 1922
- In re RugheimerDistrict Court, E.D. South Carolina · 1888
- City of Lincoln Center v. LinkerCourt of Appeals of Kansas · 1898
- Wynn v. Wabash RailroadMissouri Court of Appeals · 1905
3Cited by2 opinions
- Jones v. Oklahoma Ben. Life Ass'nCourt of Appeals for the Tenth Circuit · 1945
- Swedish Mission Friends' Aid Asso. v. CommissionerUnited States Board of Tax Appeals · 1928