Aramo-Stiftung v. Commissioner of Internal Revenue

FRANK, Circuit Judge.

There are two questions presented by this appeal. The first is whether certain dividends received by brokerage houses during the tax years 1940-1943 weré constructively received by, and thus taxable to, the petitioner in those years. The second (which we reach only because we agree with the Tax Court that the first question must be answered “yes”) is whether the petitioner may deduct, in determining its income subject to personal holding company surtax for each of those years, income taxes accrued but not paid during that year.

The facts are fully stated in the opinion of…