Forres v. Commissioner
United States Board of Tax Appeals
1. British income taxes paid by domestic partnership held deductible pro rata by the several partners, following W. J. Burns et al.,12 B.T.A. 1209. 2. In determining petitioner's taxable income for the year 1923, Commissioner may redetermine net loss claimed by petitioner for 1922, although assessment and collection of deficiency for that year are barred by the statute of limitations. 3. Sections 213 and 217(a)(2)(B) of the Revenue Acts of 1921 and 1924 held not…
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1. British income taxes paid by domestic partnership held deductible pro rata by the several partners, following W. J. Burns et al.,12 B.T.A. 1209. 2. In determining petitioner's taxable income for the year 1923, Commissioner may redetermine net loss claimed by petitioner for 1922, although assessment and collection of deficiency for that year are barred by the statute of limitations. 3. Sections 213 and 217(a)(2)(B) of the Revenue Acts of 1921 and 1924 held not unconstitutional. Held, further, that, in accordance with said statutory provisions, there shall be included in the gross incomes of…
1Opinion of the Court
*158OPINION.
Goodeioh :
The deductibility, by the several partners, of the liability for British income taxes of the partnership of Balfour, Guthrie & Company, is not different from the question' previously considered and determined in W. J. Burns et al., 12 B. T. A. 1209. Following that decision, we hold that the distributable share of the partnership income for the year 1923 of each of the petitioners herein (except John Lawson) should be reduced by his pro rata share of the British income taxes accrued against the partnership for that year and paid by it on December 5, 1927, as set out in our…
2Cases cited14 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Flint v. Stone Tracy Co.Supreme Court of the United States · 1911
- Brushaber v. Union Pacific RailroadSupreme Court of the United States · 1916
- Nichols v. CoolidgeSupreme Court of the United States · 1927
- Downes v. BidwellSupreme Court of the United States · 1901
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3Cited by17 opinions
- Mennuto v. CommissionerUnited States Tax Court · 1971
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- Rosenthal v. CommissionerUnited States Tax Court · 1967
- Libby v. Secretario de Hacienda de Puerto RicoSupreme Court of Puerto Rico · 1961
- Disston v. CommissionerCourt of Appeals for the Third Circuit · 1944
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