Fetzer Refrigerator Co. And Louisville Cooler Mfg. Co. v. United States

JOHN W. PECK, Circuit Judge.

The sole issue presented on this appeal is whether, for purposes of Section 267(a) (2) of the Internal Revenue Code of 1954, 1 the controlling shareholder of the taxpayer corporations “constructively received” certain accrued rents, where he had the authority as controlling shareholder and officer to draw checks upon the bank accounts of the corporations and the amounts in question had been accrued as payable on the books of the corporations at the time they became due.

For the years 1960 and 1962-64, Clifford L. Fetzer and his wife leased some parcels of real…