Keystone Auto. Club Casualty Co. v. Commissioner
United States Board of Tax Appeals
The petitioners are stock insurance companies which pay dividends to policyholders. They are not exempt from income tax. In the determination of deficiencies in income tax the respondent has permitted them to deduct from gross income all dividends paid to policyholders. The deficiencies determined by the respondent are sustained. Opinion at 40 B.T.A. 291, modified.
1Opinion of the Court
KEYSTONE AUTOMOBILE CLUB CASUALTY COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
KEYSTONE AUTOMOBILE CLUB FIRE COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Keystone Auto. Club Casualty Co. v. Commissioner
Docket Nos. 90931, 90932, 91484, 91486.
United States Board of Tax Appeals
42 B.T.A. 356; 1940 BTA LEXIS 1012;
July 16, 1940, Promulgated
The petitioners are stock insurance companies which pay dividends to policyholders. They are not exempt from income tax. In the determination of deficiencies in income tax the respondent has permitted them to deduct…
2Cases cited2 opinions
- Keystone Auto. Club Casualty Co. v. CommissionerUnited States Board of Tax Appeals · 1939
- Keystone Auto. Club Casualty Co. v. CommissionerUnited States Board of Tax Appeals · 1940