Legal Opinion
National Bank of Commerce v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided November 28, 1940No. 9426PublishedCited by 38 opinions
1Opinion of the Court
HANEY, Circuit Judge.
We have been petitioned to review a decision of the Board of Tax Appeals to the effect that certain recoveries on doubtful debts should have been reported as income, and that a deduction for bad debts was improper.
Marine Bancorporation owned about 90 percent of the stock of petitioner and of six smaller banks. In 1933, each of the six smaller banks charged off its books certain debts considered to be worthless or subject to criticism by either state or national bank examiners. Deductions were claimed for some of such debts in the income tax returns for 1933. TJie…
2Cases cited6 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- American Sav. Bank & Trust Co. v. BurnetCourt of Appeals for the Ninth Circuit · 1930
- Fairbanks Court W. Groc. Co. v. Commissioner of Int. Rev.Court of Appeals for the Seventh Circuit · 1936
- MacLauglin v. HarrCourt of Appeals for the Third Circuit · 1938
1 more not listed; retrieve them via the Exa API.
3Cited by38 opinions
- Hillsboro National Bank v. CommissionerSupreme Court of the United States · 1983
- West Seattle National Bank of Seattle v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1961
- Commissioner of Internal Revenue v. First State BankCourt of Appeals for the Fifth Circuit · 1948
- Citizens Federal Savings and Loan Association of Cleveland v. United StatesCourt of Appeals for the Federal Circuit · 1961
- Merchants Nat. Bank of Mobile v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1952
33 more not listed; retrieve them via the Exa API.