Legal Opinion
Corn Exchange Bank v. United States
Court of Appeals for the Second Circuit
Decided January 6, 1930No. 49PublishedCited by 42 opinions
1Opinion of the Court
MANTON, Circuit Judge.
During the year 1918, the appellant made loans to the Brooklyn Rapid Transit Corporation. Interest on the loans was accrued on the appellant’s books, kept on an accrual basis. The Brooklyn Rapid Transit Corporation went into receivership on December 31, 1918, before the close of the business day. The bank received knowledge thereof the same day. The then accrued interest amounted to $14,-014.67. The taxpayer’s return for the year was made on an accrual basis; a tax was paid on this interest under duress. The court below gave judgment for the appellee, holding that, since…
2Cases cited9 opinions
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- Douglas v. EdwardsCourt of Appeals for the Second Circuit · 1924
- Edwards v. KeithCourt of Appeals for the Second Circuit · 1916
- Spencer v. LoweCourt of Appeals for the Eighth Circuit · 1912
- In Re SheinmanDistrict Court, E.D. Pennsylvania · 1926
4 more not listed; retrieve them via the Exa API.
3Cited by42 opinions
- H. Liebes & Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1937
- American Cigar Co. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1933
- Chicago & N. W. R. Co. v. CommissionerUnited States Tax Court · 1958
- Barker v. MagruderCourt of Appeals for the D.C. Circuit · 1938
- Commercial Solvents Corp. v. CommissionerUnited States Tax Court · 1964
37 more not listed; retrieve them via the Exa API.