Legal Opinion
Breece Veneer and Panel Company v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided April 26, 1956No. 11450PublishedCited by 47 opinions
1Opinion of the Court
PLATT, District Judge.
This is a petition to review a decision of the Tax Court of the United States, 22 T.C. 1386, affirming deficiencies assessed for the fiscal years ended August 81, 1945, 1946 and 1947 in income taxes of Breece Veneer and Panel Company (hereinafter referred to as taxpayer). The question presented is whether payments made by the taxpayer to the Reconstruction Finance Corporation under a “Lease and Option to Purchase” agreement were deductible as payment of rent in the years involved under 26 U.S.C.A. § 23(a):
“(1) Trade or business expenses
“(A) In general. All the ordinary…
2Cases cited11 opinions
- Helvering v. San Joaquin Fruit & Investment Co.Supreme Court of the United States · 1936
- Walburga Oesterreich v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- Harrison v. FortlageSupreme Court of the United States · 1896
- Mills v. CommissionerUnited States Tax Court · 1948
- Benton v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1952
6 more not listed; retrieve them via the Exa API.
3Cited by47 opinions
- Delbert W. Coleman and Karen A. Graham v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1994
- Northwest Acceptance Corp. v. CommissionerUnited States Tax Court · 1972
- Lockhart Leasing Company v. United States of America, Lockhart Leasing Company v. Commissioner of Internal Revenue, (Two Cases)Court of Appeals for the Tenth Circuit · 1971
- Kansas City S. R. Co. v. CommissionerUnited States Tax Court · 1981
- New England Tank Industries, Inc. v. CommissionerUnited States Tax Court · 1968
42 more not listed; retrieve them via the Exa API.