Arkansas Louisiana Gas Company v. Commissioner of Internal Revenue

Fifth Circuit

Arkansas Louisiana Gas Company v. Commissioner of Internal Revenue

331 F.2d 850, 13 A.F.T.R.2d (RIA) 1413, 1964 U.S. App. LEXIS 5413

CourtCourt of Appeals for the Fifth Circuit

DecidedMay 11, 1964

Docket20964_1

StatusPublished

Cited by4 cases

This text of 331 F.2d 850 (Arkansas Louisiana Gas Company v. Commissioner of Internal Revenue) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Arkansas Louisiana Gas Company v. Commissioner of Internal Revenue, 331 F.2d 850, 13 A.F.T.R.2d (RIA) 1413, 1964 U.S. App. LEXIS 5413 (5th Cir. 1964).

Pincite

Opinion

PER CURIAM.

The question here is whether the Tax Court erred in holding that the expenses and costs incurred in declaring and paying stock dividends to petitioner’s shareholders were capital in nature and did not constitute ordinary and necessary business expenses, deductible from gross income under the provisions of the Internal Revenue Code. In General Banc-shares Corp. v. Commissioner of Internal Revenue, 8 Cir., 326 F.2d 712, the Court affirmed a decision of the Tax Court similar to that which is here appealed from. We fully concur in the carefully reasoned opinion in that case and affirm the judgment of the Tax Court on the basis of that opinion.

Judgment affirmed.

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

PER CURIAM.

The question here is whether the Tax Court erred in holding that the expenses and costs incurred in declaring and paying stock dividends to petitioner’s shareholders were capital in nature and did not constitute ordinary and necessary business expenses, deductible from gross income under the provisions of the Internal Revenue Code. In General Banc-shares Corp. v. Commissioner of Internal Revenue, 8 Cir., 326 F.2d 712, the Court affirmed a decision of the Tax Court similar to that which is here appealed from. We fully concur in the carefully reasoned opinion in that case and affirm the judgment of the Tax Court on the basis of that opinion.

Judgment affirmed.

Cite This Page — Counsel Stack

Bluebook (online)

331 F.2d 850, 13 A.F.T.R.2d (RIA) 1413, 1964 U.S. App. LEXIS 5413, Counsel Stack Legal Research, https://law.counselstack.com/opinion/arkansas-louisiana-gas-company-v-commissioner-of-internal-revenue-ca5-1964.

Opinion

Related

Cite This Page — Counsel Stack