Case ID: bta_10/html/0396-01.html
Source: Caselaw Access Project
Author: {"author": "Love :", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

First State Bank of Weimar, Petitioner, v. Commissioner of Internal Revenue, Respondent.
    Docket Nos. 12657, 16011.
    Promulgated January 30, 1928.
    
      Oharles F. Byers, Esq., for the petitioner.
    
      Harold Allen, Esq., for the respondent.
    
      Glande Pollard, Esq., Attorney General, Oharles W. Trueheart, Esq., Assistant Attorney General, and R. B. Óousins, Jr., Esq., Assistant Attorney General, of the State of Texas, as amici curiae.
    
   OPINION.

Love :

The petitioner’s contention in respect of the issue presented in these proceedings has been considered and sustained by the Board in First State Bank of Brackettville, 9 B. T. A. 975. The amounts paid into the Fund during the year in question as a result of either or both annual and/or special assessments are properly deductible from gross income for the year in which paid.

Judgment will be entered on 15 days' notice, under Bule 50.