Kling v. Commissioner
United States Board of Tax Appeals
The amount of the normal tax paid by a debtor corporation on bonds containing a tax-free covenant clause is not a part of the taxable income required to be included in the bondholder's income-tax return under the provisions of the Revenue Act of 1918.
1Opinion of the Court
Appeal of MARY CLARK KLING.
Kling v. Commissioner
Docket No. 1495.
United States Board of Tax Appeals
1 B.T.A. 1048; 1925 BTA LEXIS 2685;
April 27, 1925, decided Submitted March 14, 1925.
The amount of the normal tax paid by a debtor corporation on bonds containing a tax-free covenant clause is not a part of the taxable income required to be included in the bondholder's income-tax return under the provisions of the Revenue Act of 1918.
Addison S. Pratt, Esq., for the taxpayer.
Robert A. Littleton, Esq., for the Commissioner.
SMITH
Before GRAUPNER, LITTLETON, and SMITH.
This appeal is from a deficiency…
2Cases cited1 opinion
- Kling v. CommissionerUnited States Board of Tax Appeals · 1925