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1. Commissioner v. First Sec. Bank, No. 70-305, SUPREME COURT OF THE UNITED STATES, January 10, 1972, Argued , March 21, 1972, Decided

OVERVIEW: Income from insurance policies sold by national banks to their customers was not taxable to banks where federal law prohibited banks from acting as insurance agents; banks could not be taxed on money that they were not entitled to receive.

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