Ellis Banking Corporation v. Commissioner of Internal Revenue Service

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that, on remand, the Tax Court should make an allocation to the best of its ability
• distinguishing cases the taxpayer relied upon by the fact that separate and distinct assets were not acquired
• distinguishing cases the taxpayer relied upon by the fact that separate and distinct assets were not acquired
• function of capitalization rules is to achieve accurate measure of net income by avoiding the understatement of current income associated with immediate deductibility

Source: CourtListener parenthetical corpus (CC0).