Legal Opinion
Willoughby Camera Stores, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided January 29, 1942No. 117PublishedCited by 23 opinions
1Opinion of the Court
FRANK, Circuit Judge.
The issue here is whether petitioner was entitled to deduct from gross income, as business expenses under § 23(a) of the Revenue Acts of 1934 and 1936, 26 U.S.C. A. Int.Rev.Code, § 23(a), certain amounts which it set up on its books as reserves for employees’ bonuses. The amounts were deducted in 1935 and 1936, although not paid until the following years, and the disputed question is whether the taxpayer, which is on the accrual system, was entitled to make the deductions in the earlier years. The Board of Tax Appeals held that there was, when the accounts were set up, no…
2Cases cited7 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Continental Tie & Lumber Co. v. United StatesSupreme Court of the United States · 1932
- S. Naitove & Co. v. CommissionerCourt of Appeals for the D.C. Circuit · 1929
- Mobile Drug Co. v. United StatesDistrict Court, S.D. Alabama · 1930
- Rogers, Brown & Crocker Bros., Inc. v. CommissionerUnited States Board of Tax Appeals · 1935
2 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- Giuntoli v. Garvin Guybutler Corp.District Court, S.D. New York · 1989
- The Washington Post Company v. The United StatesUnited States Court of Claims · 1969
- Lukens Steel Company v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1971
- Kollman v. McGregorSupreme Court of Iowa · 1949
- Croskey v. Kroger Co.Missouri Court of Appeals · 1953
18 more not listed; retrieve them via the Exa API.