Corinth State Bank v. Commissioner

Board of Tax Appeals

Corinth State Bank v. Commissioner

14 B.T.A. 1162, 1929 BTA LEXIS 2985

CourtUnited States Board of Tax Appeals

DecidedJanuary 10, 1929

DocketDocket No. 18259.

StatusPublished

Cited by1 cases

This text of 14 B.T.A. 1162 (Corinth State Bank 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

Corinth State Bank v. Commissioner, 14 B.T.A. 1162, 1929 BTA LEXIS 2985 (bta 1929).

Pincite

Opinion

OPINION.

Marquette :

This proceeding is for the redetermination of a deficiency in income tax asserted by the respondent for the year 1924 in the amount of $375.99.

The record herein consists only of the pleadings and the petitioner’s income-tax return for the year 1924, which was introduced in evidence by the respondent. The record shows that the petitioner is a banking corporation organized under the laws of Mississippi, with its office and place of business, at Corinth; that in 1924 it became liable for state, county and municipal taxes, and that it did not pay them until 1925; that on its income-tax return for 1924 it deducted the amount of said taxes and that the respondent disallowed the deduction, since the petitioner’s books were kept on the basis of cash receipts and disbursements.

Judgment will be entered for the respondent.

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

OPINION.

Marquette :

This proceeding is for the redetermination of a deficiency in income tax asserted by the respondent for the year 1924 in the amount of $375.99.

The record herein consists only of the pleadings and the petitioner’s income-tax return for the year 1924, which was introduced in evidence by the respondent. The record shows that the petitioner is a banking corporation organized under the laws of Mississippi, with its office and place of business, at Corinth; that in 1924 it became liable for state, county and municipal taxes, and that it did not pay them until 1925; that on its income-tax return for 1924 it deducted the amount of said taxes and that the respondent disallowed the deduction, since the petitioner’s books were kept on the basis of cash receipts and disbursements.

Judgment will be entered for the respondent.

Cite This Page — Counsel Stack

Bluebook (online)

14 B.T.A. 1162, 1929 BTA LEXIS 2985, Counsel Stack Legal Research, https://law.counselstack.com/opinion/corinth-state-bank-v-commissioner-bta-1929.

Opinion

Related

Cite This Page — Counsel Stack