Summary
In Commissioner v. Commercial Investment Trust Corporation, 74 F.2d 1015 (C.A. 2, 1935), affirming per curiam 28 B.T.A. 143 (1933), it was held that expenses incurred in connection with the issuance of preferred stock which was to be retired were not deductible currently or ratably over the contemplated life of the stock.
Summary of this case from Skaggs Cos. v. Comm'r of Internal RevenueOpinion
No. 26.
January 7, 1935.
Petitions for review of decision of the United States Board of Tax Appeals.
Bernhard Knollenberg and Harry J. Rudick, both of New York City (Lord, Day Lord, of New York City, of counsel), for taxpayer.
Frank J. Wideman, Asst. Atty. Gen., Sewall Key and John G. Remey, Sp. Assts. to Atty. Gen., for respondent.
Before MANTON, L. HAND, and CHASE, Circuit Judges.
Decision affirmed.