Legal Opinion
Sam P. Wallingford G. Corp. v. Commissioner of Int. Rev.
Court of Appeals for the Tenth Circuit
Decided December 4, 1934No. 1065PublishedCited by 20 opinions
1Opinion of the Court
McDERMOTT, Circuit Judge.
In Welch v. Helvering, 290 U. S. 111, 54 S. Ct. 8, 9, 78 L. Ed. 212, it appeared that the taxpayer had been an active officer of a corporation which had been adjudged a bankrupt. When the taxpayer thereafter started up in the same business on his own account, he found it necessary to pay up the debts of the bankrupt corporation in order to reestablish his relationship with his customers and to solidify his own credit and standing. This he did, and then deducted such payments from his own income as “ordinary and necessary expenses paid or incurred * * * in carrying on…
2Cases cited14 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Old Colony Railroad v. CommissionerSupreme Court of the United States · 1932
- Kornhauser v. United StatesSupreme Court of the United States · 1928
- Woolford Realty Co. v. RoseSupreme Court of the United States · 1932
- Burroughs Bldg. Material Co. v. Com'r of Internal RevenueCourt of Appeals for the Second Circuit · 1931
9 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- A. Giurlani & Bro. v. Com'r of Int. Rev.Court of Appeals for the Ninth Circuit · 1941
- WF Young, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1941
- Reading Co. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1942
- Kentucky Utilities Co. v. GlennCourt of Appeals for the Sixth Circuit · 1968
- Wilson v. CommissionerUnited States Tax Court · 1963
15 more not listed; retrieve them via the Exa API.