Keystone Table Co. v. Commissioner

Board of Tax Appeals

Keystone Table Co. v. Commissioner

1 B.T.A. 382, 1925 BTA LEXIS 2945

CourtUnited States Board of Tax Appeals

DecidedJanuary 27, 1925

DocketDocket No. 533.

StatusPublished

This text of 1 B.T.A. 382 (Keystone Table 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

Keystone Table Co. v. Commissioner, 1 B.T.A. 382, 1925 BTA LEXIS 2945 (bta 1925).

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Opinion

[383]*383OPINION.

Graupner :

The Revenue Act of 1918 contains no provisions which would permit the taxpayer to deduct the loss sustained by it in 1920 from the net income of the year 1921. Section 204(b) of the 1921 act expressly limits the operation of its provisions to losses sustained after December 31, 1920. Section 204(b) of the 1918 act provides no relief for the taxpayer and it is without the privilege granted in the later act; therefore, the determination of the Commissioner must be sustained.

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[383]*383OPINION.

Graupner :

The Revenue Act of 1918 contains no provisions which would permit the taxpayer to deduct the loss sustained by it in 1920 from the net income of the year 1921. Section 204(b) of the 1921 act expressly limits the operation of its provisions to losses sustained after December 31, 1920. Section 204(b) of the 1918 act provides no relief for the taxpayer and it is without the privilege granted in the later act; therefore, the determination of the Commissioner must be sustained.

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Bluebook (online)

1 B.T.A. 382, 1925 BTA LEXIS 2945, Counsel Stack Legal Research, https://law.counselstack.com/opinion/keystone-table-co-v-commissioner-bta-1925.

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