Federal Nat'l Bank v. Commissioner
United States Tax Court
Upon original trial the petitioner argued that the determination of deficiency was arbitrary and capricious, in that the Commissioner had determined that an insurance policy was transferred to petitioner for consideration but had not deducted any amount from the insurance proceeds collected. Section 22 (b) (2) (A), I. R. C. Our conclusion that the petitioner had the burden of proof was reversed, and in compliance with mandate the deficiency determination was held invalid.
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Upon original trial the petitioner argued that the determination of deficiency was arbitrary and capricious, in that the Commissioner had determined that an insurance policy was transferred to petitioner for consideration but had not deducted any amount from the insurance proceeds collected. Section 22 (b) (2) (A), I. R. C. Our conclusion that the petitioner had the burden of proof was reversed, and in compliance with mandate the deficiency determination was held invalid. On second trial respondent admitted allegations of premiums paid. Proof was made of cash surrender value of the insurance…
1Opinion of the Court
OPINION.
Disney, Judge:
This case, after trial and decision entered on May 18, 1949, was appealed, and is now before us upon remand, the mandate having been issued March 21, 1950; Federal National Bank of Shawnee v. Commissioner, 180 Fed. (2d) 494. We are thereby commanded to adjudge the determination of the Commissioner invalid and to take further proceedings in accordance with the views expressed in the opinion of the court.
Pursuant to said mandate we set the matter for April 19, 1950, for hearing in Washington, D. C., and on the motion of the respondent that it be continued to Oklahoma City…
2Cases cited4 opinions
- Helvering v. TaylorSupreme Court of the United States · 1935
- Helvering v. Northwest Steel Rolling Mills, Inc.Supreme Court of the United States · 1940
- Kieselbach v. CommissionerSupreme Court of the United States · 1943
- Feathers v. CommissionerUnited States Tax Court · 1947
3Cited by12 opinions
- Suarez v. CommissionerUnited States Tax Court · 1972
- Commissioner of Internal Revenue v. The Charleston Nat. Bank, Charleston, W. VaCourt of Appeals for the Fourth Circuit · 1954
- Waynesboro Knitting Co. v. CommissionerUnited States Tax Court · 1954
- Federal Nat'l Bank v. CommissionerUnited States Tax Court · 1951
- Federal National Bank of Shawnee, Oklahoma v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. Federal National Bank of Shawnee, OklahomaCourt of Appeals for the Tenth Circuit · 1951
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