Anglo Cal. Trust Co. v. Commissioner

Board of Tax Appeals

Anglo Cal. Trust Co. v. Commissioner

18 B.T.A. 468, 1929 BTA LEXIS 2033

CourtUnited States Board of Tax Appeals

DecidedDecember 11, 1929

DocketDocket No. 19247.

StatusPublished

Cited by1 cases

This text of 18 B.T.A. 468 (Anglo Cal. Trust Co. v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Anglo Cal. Trust Co. v. Commissioner, 18 B.T.A. 468, 1929 BTA LEXIS 2033 (bta 1929).

Pincite

Opinion

OPINION.

SteRnhagen :

The petitioner’s decedent in 1920 paid a California inheritance tax of $14,237.80 in respect of a bequest from his mother of a life estate in certain corporate stock. The amount was not paid by or for his mother’s estate and no deduction therefor was claimed by his estate. Petitioner’s decedent made no deduction thereof on his income-tax return for 1920. Claim for refund has since been made, founded upon the deduction of such payment. The Commissioner refuses to allow the deduction and has determined a deficiency of $626.54. By virtue of the Revenue Act of 1928, section 703, the deduction is allowable.

Petitioner is entitled to have the income tax for 1920 recomputed by the allowance as a deduction of $14,237.80 and the resulting deficiency or overpayment determined accordingly.

J udgment will be entered wider Bule 50.

Free access — add to your briefcase to read the full text and ask questions with AI

OPINION.

SteRnhagen :

The petitioner’s decedent in 1920 paid a California inheritance tax of $14,237.80 in respect of a bequest from his mother of a life estate in certain corporate stock. The amount was not paid by or for his mother’s estate and no deduction therefor was claimed by his estate. Petitioner’s decedent made no deduction thereof on his income-tax return for 1920. Claim for refund has since been made, founded upon the deduction of such payment. The Commissioner refuses to allow the deduction and has determined a deficiency of $626.54. By virtue of the Revenue Act of 1928, section 703, the deduction is allowable.

Petitioner is entitled to have the income tax for 1920 recomputed by the allowance as a deduction of $14,237.80 and the resulting deficiency or overpayment determined accordingly.

J udgment will be entered wider Bule 50.

Cite This Page — Counsel Stack

Bluebook (online)

18 B.T.A. 468, 1929 BTA LEXIS 2033, Counsel Stack Legal Research, https://law.counselstack.com/opinion/anglo-cal-trust-co-v-commissioner-bta-1929.

Opinion

Related

Cite This Page — Counsel Stack