Iber v. United States

DECISION ON TRIAL WITHOUT JURY

ROBERT D. MORGAN, District Judge.

This action was brought to recover income taxes paid by plaintiff for the years 1962, 1963 and 1964.1

FINDINGS OF FACT

The parties stipulated and the Court finds facts as follows:

1. Plaintiff entered into a lease with C. Iber & Sons, Inc., a corporation, of which he was president and a substantial stockholder, covering real estate owned by the plaintiff. The term of the lease was 132 months at a rental of $475 per month, commencing on September 1, 1959 and terminating on August 31, 1970.

2. Thereafter, on February 1, 1960, plaintiff…