U.S. Court of Appeals for the Fifth Circuit, 1964

Arkansas Louisiana Gas Company v. Commissioner of Internal Revenue

U.S. Court of Appeals for the Fifth Circuit · Decided May 11, 1964 · Tuttle, Wisdom, McRae

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

Counsel

Thomas A. Harrell, Shreveport, La., for petitioner. Blanchard, Walker, O’Quin & Roberts, Shreveport, La., of counsel., Louis F. Oberdorfer, Asst. Atty. Gen., John B. Jones, Acting Asst. Atty. Gen., Lee A. Jackson, Atty., Dept. of Justice, R. P. Hertzog, Chief Counsel, I. R. S., Charles Owen Johnson, Atty., I. R. S., David O. Walter, Edward L. Rogers, Attys., Dept. of Justice, Washington, D. C., for respondent.

Cases that cite this one

2 later published cases cite this decision.

United States Gypsum Company v. United States (District Court, N.D. Illinois 1969)
Seaboard Finance Co. v. Commissioner (United States Tax Court 1964)

This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.

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.

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