South Chester Tube Co. v. Commissioner
United States Tax Court
Deduction in 1943 of a portion of a 1942 contribution to an employees' trust set up by petitioner in 1941 held not allowable under sections 23 (p) and 165, I. R. C., as amended by section 162 of the Revenue Act of 1942, where the trust agreement did not conform to the nondiscriminatory provisions of section 165, as so amended; held, further, that respondent is not estopped from disallowing the 1943 deduction by reason of the fact that he allowed the deduction in 1941 of a…
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Deduction in 1943 of a portion of a 1942 contribution to an employees' trust set up by petitioner in 1941 held not allowable under sections 23 (p) and 165, I. R. C., as amended by section 162 of the Revenue Act of 1942, where the trust agreement did not conform to the nondiscriminatory provisions of section 165, as so amended; held, further, that respondent is not estopped from disallowing the 1943 deduction by reason of the fact that he allowed the deduction in 1941 of a contribution to the trust made in that year and in 1942 of a portion of a contribution made in that year.
1Opinion of the Court
OPINION.
LeMiRe, Judge:
This proceeding involves a deficiency of $4,309.05 in petitioner’s income tax for 1943. Some of the adjustments made by the respondent in his notice of deficiency are not contested in this proceeding. The only question for our determination is whether petitioner is entitled to a deduction in 1943 for $12,501.31 representing a portion of a contribution which it made in 1942 to a trust created in 1941 for the benefit of a group of its officers and employees. The facts have all been stipulated and the written stipulation, with exhibits attached, is incorporated herein by…
2Cases cited2 opinions
- Niles Bement Pond Co. v. United StatesSupreme Court of the United States · 1930
- Knapp Monarch Co. v. CommissionerUnited States Tax Court · 1942
3Cited by19 opinions
- Saigh v. CommissionerUnited States Tax Court · 1961
- Kenyon Instrument Co. v. CommissionerUnited States Tax Court · 1951
- Royer's, Inc. v. United StatesDistrict Court, W.D. Pennsylvania · 1958
- Liang v. CommissionerUnited States Tax Court · 1975
- Cowden v. CommissionerUnited States Tax Court · 1965
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