# Rhode Island Tool Co. v. Commissioner

> United States Board of Tax Appeals · November 28, 1925 · 3 B.T.A. 180

URL: https://www.frixlaw.com/law-library/cases/4494782

## Case

- **Full name:** APPEAL OF THE RHODE ISLAND TOOL CO.
- **Court:** United States Board of Tax Appeals
- **Decided:** November 28, 1925
- **Citations:** 3 B.T.A. 180; 1925 BTA LEXIS 2012
- **Precedential status:** Published
- **Opinion:** Opinion of the court by Sternhagen
- **Judges:** Iagen, Steeni, Green, Love, Sternhagen
- **Cited by:** 0 later opinions in the Frix Law Library

## Citator (automated)

- No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases.
- Full citator and citing cases: https://www.frixlaw.com/law-library/cases/4494782

## Opinion text

*181 OPINION.
Sternhagen
: Since this appeal was filed the Board has decided the Appeal of L. S. Ayers & Co., 1 B. T. A., 1135, and the Appeal of Guarantee Construction Co., 2 B. T. A. 1145. From the opinions in those cases, which we need not now repeat, it is clear that the position of the taxpayer as to the proper determination of invested capital in respect of Federal income and profits taxes based on the income- for preceding years must be sustained, except in so far as *182 concerns the dividends paid January 15 of each year, which dividends are deductible in full from invested capital of the year from the date paid. Sec. 201 (e), Revenue Act of 1918.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/4494782. Public record. Not legal advice.