Clayton v. S.W. Life Ins. Co.

1 Citing case

  1. Wier Long Leaf Lumber Co. v. Commissioner of Internal Revenue

    173 F.2d 549 (5th Cir. 1949)   Cited 59 times
    In Wier Long Leaf Lumber Co. v. Commissioner, 5 Cir., 173 F.2d 549, the carryback provision was considered as applying to a corporation in liquidation but continuing in business.

    49 =========== Cf. Taylor Oil Gas Co. v. Commissioner, 5 Cir., 47 F.2d 108; art. 1389, Vernon's Texas Civil Statutes; Clayton v. Southwest Life Ins. Co., Tex.Civ.App., 158 S.W.2d 820. The decision of the Tax Court was wrong in denying the carry-back for 1943. It was right in denying it for 1944, but not for the reason that it gave. Its order is affirmed as to the 1944 carry-back but reversed as to that for 1943, and the cause is remanded for redetermination in accordance herewith.