WASHINGTON COUNTY FIRE INSURANCE CO.

v.

DRISCOLL, COLLECTOR OF INTERNAL REVENUE

Citator

Cited By

• First Tr. & Sav. Bank OF Taylorville v. United States, 614 F.2d 1142 (7th Cir. 1980)
  …t has long held that the tax benefit rule encompasses the recovery of previously deducted taxes and that refunds of such taxes are to be treated as income in the year received. Union Trust v. Commissioner, 111 F. 2d 60 (7th Cir. 1940), cert. denied, 311 U.S. 658, 61 [*1145] S.Ct. 12, 85 L.Ed. 421 (1940); Universal, Inc. v. Commissioner, 109 F. 2d 616 (7th Cir. 1940); Nash v. Commissioner, 88 F. 2d 477 (7th Cir. 1937), cert. denied, 801 U.S. 700, 57 S.Ct. 930, 81 L.Ed. 1355 (1937). See also Rothensies v. E…

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• Tennessee-Carolina Transp., Inc. v. Commissioner OF Internal Revenue, 582 F.2d 378 (6th Cir. 1978)
  …ry of a previously deducted amount or when there is some other event inconsistent with that prior deduction. See Block v. Commissioner, 39 B.T.A. 338, 340-41 (1939), aff’d sub nom. Union Trust Co. v. Commissioner, 111 F. 2d 60 (7th Cir.), cert. den. 311 U.S. 658, 61 S.Ct. 12, 85 L.Ed. 421 (1940). Here the transfer to taxpayer with a stepped-up basis, pursuant to § 334(b)(2), of the tires and tubes which had a substantial useful life remaining was inconsistent with the prior expensing of them, which indicate…

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