Inter-American Life Ins. Co. v. Commissioner
United States Tax Court
Petitioner was incorporated in Arizona as a limited stock life insurance company in July 1957 and received its certificate of authority to transact life insurance business in Arizona on Dec. 30, 1957. From the latter date and continuing through its taxable year 1961, petitioner, although its sole active business was in life insurance, did not aggressively engage in the life insurance business and at the end of 1961, petitioner considered temporary surrender of its…
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Petitioner was incorporated in Arizona as a limited stock life insurance company in July 1957 and received its certificate of authority to transact life insurance business in Arizona on Dec. 30, 1957. From the latter date and continuing through its taxable year 1961, petitioner, although its sole active business was in life insurance, did not aggressively engage in the life insurance business and at the end of 1961, petitioner considered temporary surrender of its certificate of authority to transact insurance business. During each of the years 1958 through 1961, petitioner's investment…
1Opinion of the Court
Inter-American Life Insurance Company, Petitioner v. Commissioner of Internal Revenue, Respondent
Inter-American Life Ins. Co. v. Commissioner
Docket No. 4775-68
United States Tax Court
56 T.C. 497; 1971 U.S. Tax Ct. LEXIS 121;
June 15, 1971, Filed
Decision will be entered under Rule 50.
Petitioner was incorporated in Arizona as a limited stock life insurance company in July 1957 and received its certificate of authority to transact life insurance business in Arizona on Dec. 30, 1957. From the latter date and continuing through its taxable year 1961, petitioner, although its sole active business was…
2Cases cited2 opinions
- Inter-American Life Ins. Co. v. CommissionerUnited States Tax Court · 1971
- Cardinal Life Insurance v. United StatesDistrict Court, N.D. Texas · 1969