Columbian Carbon Co. v. Commissioner
United States Board of Tax Appeals
1. Time of accrual of income tax imposed by British Income Tax Act, 1918, upon a trade carried on in the United Kingdom, determined for purpose of credit under section 238, Revenue Act of 1918. 2. Held, that the British war-loan tax paid in 1920 was essentially an income tax, and the amount thereof constitutes a credit allowable for said year under section 238 of the 1918 Act.
1Opinion of the Court
*462OPINION.
Teammell :
Three issues were raised by the pleadings in this case, of which two were subsequently abandoned by the petitioner without objection by the respondent. The facts set out in our findings hereinabove were stipulated by parties under Buie 38, and the case was submitted on briefs without hearing.
The issue remaining for decision concerns the correct amount of the credit to which the petitioner is entitled on account of British income and war-loan taxes accrued in the taxable year 1920, and being the credit allowable under the Revenue Act of 1918, which provides:
Sec. 238. (a) That…
2Cases cited6 opinions
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