1. Home
  2. Browse Decisions
  3. T.C.
  4. 16 T.C.
  5. 16 T.C. 147 (1951)
 

FIRST NATIONAL BANK OF LAWRENCE COUNTY v. COMMISSIONER

Docket No. 24005.

16 T.C. 147 (1951)

FIRST NATIONAL BANK OF LAWRENCE COUNTY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated January 24, 1951.

Attorney(s) appearing for the Case

John A. McCann, Esq., for the petitioner.

Kalman A. Goldring, Esq., for the respondent.

OPINION.

DISNEY, Judge:

This case involves income tax for the calendar year 1944. Deficiency was determined in the amount of $4,347.45. The petitioner claims overpayment of $5,652.47. The only question presented is whether the sum of $58,117.73, received in the taxable year by the petitioner from retirement of bonds, after the bonds had been charged off, with tax benefit, in previous years, is taxable as ordinary income or capital gain. All facts...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases