Legal Opinion
A. Giurlani & Bro. v. Com'r of Int. Rev.
Court of Appeals for the Ninth Circuit
Decided May 15, 1941No. 9621PublishedCited by 35 opinions
1Opinion of the Court
GARRECHT, Circuit Judge.
The fundamental question presented is whether $32,962.50 paid in 1935 by petitioner to creditors of an Italian corporation, which controlled the source of supply of petitioner’s most profitable merchandise, to save the Italian corporation from bankruptcy, was deductible as an ordinary and necessary business expense or as a loss sus tained in trade or business. The Board of Tax Appeals held it was neither and sustained the Commissioner, who had refused to allow the deduction and had assessed a deficiency against the petitioner for the year 1935.
The Board found:
The…
2Cases cited23 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Old Colony Railroad v. CommissionerSupreme Court of the United States · 1932
- Helvering v. RankinSupreme Court of the United States · 1935
18 more not listed; retrieve them via the Exa API.
3Cited by35 opinions
- International Trading Co. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1960
- Dinardo v. CommissionerUnited States Tax Court · 1954
- Hirsch v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1941
- Keasbey & Mattison Co. v. RothensiesCourt of Appeals for the Third Circuit · 1943
- Don T. Allen and Don T. Allen as of the Estate of Helen M. Allen, Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1960
30 more not listed; retrieve them via the Exa API.