Legal Opinion
Heywood Boot & Shoe Co. v. Commissioner of Internal Rev.
Court of Appeals for the First Circuit
Decided April 1, 1935No. 2965PublishedCited by 4 opinions
1Opinion of the Court
MORTON, Circuit Judge.
This case involves a deficiency income tax for the year 1926. The income on which the tax was assessed was created as a matter of bookkeeping by the Commissioner’s disallowance as deductions for expenses of the business of certain payments made by the petitioner to its principal officers as additional compensation for their services during that year. The amount of this additional compensation was $125,000. The whole of it was disallowed as a deduction and the income account of the petitioner was surcharged accordingly. The Commissioner’s action was affirmed by the Board…
2Cases cited5 opinions
- Foss v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1935
- Conrad & Co. v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1931
- Foster v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1932
- Jewett & Co. v. CommissionerCourt of Appeals for the Second Circuit · 1932
- H. B. Claflin Co. v. KernU.S. Circuit Court for the District of Eastern Louisiana · 1893
3Cited by4 opinions
- R. P. Farnsworth & Co., Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1953
- Heywood Boot & Shoe Co. v. Commissioner of Internal Rev.Court of Appeals for the First Circuit · 1935
- Marra Bros. v. CommissionerUnited States Tax Court · 1944
- R. P. Farnsworth & Co., Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1953