1. Home
  2. Browse Decisions
  3. F.2d
  4. 232 F.2d
  5. 232 F.2d 541 (1956)
 

MONTANA POWER COMPANY v. UNITED STATES

No. 11443.

232 F.2d 541 (1956)

The MONTANA POWER COMPANY, Appellant, v. UNITED STATES of America.

United States Court of Appeals Third Circuit.

Reargued March 5, 1956.

Decided March 28, 1956.

Attorney(s) appearing for the Case

E. Roy Gilpin, New York City (Schmid & Bourne, Summit, N. J., K. William Kolbe, New York City, on the brief), for appellant.

Walter Akerman, Jr., Washington, D. C. (Charles K. Rice, Acting Asst. Atty. Gen., Lee A. Jackson, Atty., Dept. of Justice, Washington, D. C., Raymond Del Tufo, Jr., U. S. Atty., Newark, N. J., H. Brian Holland, Asst. Atty. Gen., Ellis N. Slack, Sp. Asst. to the Atty. Gen., on the brief), for the United States.

Before BIGGS, Chief Judge, and MARIS, GOODRICH, McLAUGHLIN, KALODNER, STALEY and HASTIE, Circuit Judges.

KALODNER, Circuit Judge.

Under long-standing Treasury Regulations a corporation which issues bonds at a discount can prorate or amortize such discount over the life of the bonds.

Sec. 19.22(a)-18(3) (a) of Treasury Regulations 103, applicable in the tax years here involved, provides:

"If bonds are issued by a corporation at a discount, the net amount of such discount is deductible and should be prorated or amortized over the life of the bonds."

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