Legal Opinion
Commissioner v. Central Republic Trust Co.
Court of Appeals for the Seventh Circuit
Decided February 23, 1935No. Nos. 5340, 5359PublishedCited by 3 opinions
1Opinion of the Court
LINDLEY, District Judge.
Petitioner in No. 5340 seeks to review a decision of the United States Board of Tax Appeals affecting the respondent’s income taxes for 1920 and 1928. The taxpayer was a bank, a substantial part of its business being the making of loans secured by real estate mortgages. The bank took from each’ borrower the security of a real estate mortgage and charged the borrower not only interest upon the loan, but a so-called “commission,” “discount,” or “underwriting fee,” varying from 1 per cent, to 11 per cent, of the principal, which was deducted from the face amount of the…
2Cases cited5 opinions
- New York Life Insurance v. EdwardsSupreme Court of the United States · 1926
- Rusk v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1931
- Columbia State Sav. Bank v. Commissioner of Int. Rev.Court of Appeals for the Seventh Circuit · 1930
- Blair v. First Trust & Savings Bank of MiamiCourt of Appeals for the Fifth Circuit · 1930
- Helvering v. Martin-Stubblefield, Inc.Court of Appeals for the Eighth Circuit · 1934
3Cited by3 opinions
- Cleaver v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1946
- In Re Prudence Co.Court of Appeals for the Second Circuit · 1938
- Liftin v. CommissionerUnited States Tax Court · 1961