Standard Brewing Co. v. Commissioner
United States Board of Tax Appeals
1. The petitioner is not entitled, under the Revenue Act of 1918, to any deduction from gross income on account of obsolescence of trade-marks and good will. 2. An amount deposited by the petitioner in the year 1920 with a collector of internal revenue as an offer in compromise of certain taxes and penalties, which offer was subsequently increased in 1921 and accepted in that year, is not a proper deduction from gross income for 1920. 3. The petitioner in the year 1916 took…
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1. The petitioner is not entitled, under the Revenue Act of 1918, to any deduction from gross income on account of obsolescence of trade-marks and good will. 2. An amount deposited by the petitioner in the year 1920 with a collector of internal revenue as an offer in compromise of certain taxes and penalties, which offer was subsequently increased in 1921 and accepted in that year, is not a proper deduction from gross income for 1920. 3. The petitioner in the year 1916 took out a policy of insurance on the lives of certain of its officers. In the years 1916 to 1919, inclusive, it paid…
1Opinion of the Court
APPEAL OF STANDARD BREWING CO.
Standard Brewing Co. v. Commissioner
Docket No. 193.
United States Board of Tax Appeals
6 B.T.A. 980; 1927 BTA LEXIS 3363;
April 22, 1927, Promulgated
1. The petitioner is not entitled, under the Revenue Act of 1918, to any deduction from gross income on account of obsolescence of trade-marks and good will.
2. An amount deposited by the petitioner in the year 1920 with a collector of internal revenue as an offer in compromise of certain taxes and penalties, which offer was subsequently increased in 1921 and accepted in that year, is not a proper deduction from gross…
2Cases cited1 opinion
- Appeal of Standard Brewing Co.United States Board of Tax Appeals · 1927