Alworth v. Commissioner
United States Board of Tax Appeals
Federal income and excess profits taxes paid in the following year held not deductible by corporations on the cash basis in computing their "adjusted net income" under section 351, Revenue Act of 1934.
1Opinion of the Court
M. W. ALWORTH, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Alworth v. Commissioner
Docket No. 91345.
United States Board of Tax Appeals
38 B.T.A. 656; 1938 BTA LEXIS 839;
September 29, 1938, Promulgated
Federal income and excess profits taxes paid in the following year held not deductible by corporations on the cash basis in computing their "adjusted net income" under section 351, Revenue Act of 1934.
Frank w. Wilson, C.P.A., for the petitioner.
Albert E. Arent, Esq., for the respondent.
OPPER
OPINION.
OPPER: Petitioner, the sole stockholder of two corporations which are concededly…
2Cases cited1 opinion
- Alworth v. CommissionerUnited States Board of Tax Appeals · 1938