# Metropolitan Edison Co. v. Commissioner > United States Board of Tax Appeals · May 14, 1937 · 35 B.T.A. 1110 URL: https://www.frixlaw.com/law-library/cases/4496217 ## Case - **Full name:** METROPOLITAN EDISON COMPANY, v. COMMISSIONER OF INTERNAL REVENUE - **Court:** United States Board of Tax Appeals - **Decided:** May 14, 1937 - **Citations:** 35 B.T.A. 1110; 1937 BTA LEXIS 795 - **Precedential status:** Published - **Opinion:** Dissent by Smith - **Judges:** Iagbn, Smith, Morris, Black, Steeni, Murdock - **Cited by:** 3 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/4496217 ## How later opinions describe it (automated extraction) - finding of fact No. 3 ## Opinion text Smith, dissenting: I am of the opinion that the petitioner is entitled to deduct from the gross income of the taxable years the amounts which have been disallowed in the prevailing opinion of the Board as deductions for unamortized bond discount and expense. The petitioner took over its subsidiaries under mergers of the petitioner with its subsidiaries. It took over the assets of its subsidiaries at the actual costs to the subsidiaries. If the petitioner is not entitled to deduct the unamortized bond discount and expense upon the bonds redeemed in the taxable years it will never get deductions for the unamortized bond discount and expense upon the bond issues of the subsidiaries. In my opinion such a result is not responsive to the legislative intent. See Western Maryland Ry. Co. v. Commissioner, 33 Fed. (2d) 695; New York Central R. Co. v. Commissioner, 79 Fed. (2d) 247. --- Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/4496217. Public record. Not legal advice.