NEW WORLD LIFE INSURANCE CO.
v.
UNITED STATES

U.S. | 1940-12-09
No. 2
311 U.S. 620 Supreme Court of the United States (1940) Positive Treatment
Cited by 1 case
Opinion of the Court
Per Curiam:•

Per Curiam:•

The judgment is affirmed upon the first ground set forth in the opinion of the Court of Claims with respect 'to investment expenses, the views expressed on the second question considered by the Court of Claims as to the right of deduction on account of insurance reserves not being an essential basis for the judgment and being contrary to Helvering v. Oregon Mutual Life Insurance Co., ante, p. 267.

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  • Jefferson Standard Life Ins. Co. v. United States, 408 F.2d 842 (4th Cir. 1969)
    …taxpayer advances three arguments, none of which we think possesses merit. First, we do not find persuasive the argument, which taxpayer seeks to bolster by reference to New World Life Ins. Co. v. United States, 26 F.Supp. 444 (Ct.Cl.1939), aff’d, 311 U.S. 620, 61 S.Ct. 314, 85 L.Ed. 393 [*849] (1940), that charitable contributions are “general expenses.” Prior to the enactment of the 1939 Internal Revenue Code, charitable contributions were considered general expenses, but with the enactment of that Code…

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