Martell Builders, Inc. v. Commissioner
United States Tax Court
Held, respondent erred in disallowing to petitioner Martell, as an ordinary and necessary business expense, a substantial portion of loan fees paid to American Savings & Loan Association in connection with a subdivision development. Held, further, American is not liable as transferee of Martell.
1Opinion of the Court
Martell Builders, Inc., (a dissolved corporation) v. Commissioner. American Savings & Loan Association v. Commissioner.
Martell Builders, Inc. v. Commissioner
Docket Nos. 3700-62, 3701-62.
United States Tax Court
T.C. Memo 1964-250; 1964 Tax Ct. Memo LEXIS 90; 23 T.C.M. (CCH) 1501; T.C.M. (RIA) 64250;
September 23, 1964
Held, respondent erred in disallowing to petitioner Martell, as an ordinary and necessary business expense, a substantial portion of loan fees paid to American Savings & Loan Association in connection with a subdivision development. Held, further, American is not liable as…
2Cases cited3 opinions
- McEnaney v. CommissionerUnited States Tax Court · 1944
- Worth Steamship Corp. v. CommissionerUnited States Tax Court · 1946
- Monroe Sand & Gravel Co. v. CommissionerUnited States Board of Tax Appeals · 1937