Fender Sales, Inc. v. Commissioner
United States Tax Court
Held, petitioner C. Leo Fender was not taxable on bonus payments received in 1956 and 1957 to the extent such bonuses were returned in the year of receipt to his employer.
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Held, petitioner C. Leo Fender was not taxable on bonus payments received in 1956 and 1957 to the extent such bonuses were returned in the year of receipt to his employer. Held further, petitioner Fender Instrument Co. did not understate its salary expense deduction in the year 1956, and it did not overstate its miscellaneous income in the year 1957. Held further, petitioner C. Leo Fender received taxable income in the amount of $40,000 as a result of the withdrawal of said sum in 1958 from Fender Instrument Co. Held further, petitioners Donald D. Randall and C. Leo Fender did not realize…
1Opinion of the Court
Fender Sales, Inc., et al. 1 v. Commissioner.
Fender Sales, Inc. v. Commissioner
Docket Nos. 92757-92762, 94762.
United States Tax Court
T.C. Memo 1963-119; 1963 Tax Ct. Memo LEXIS 225; 22 T.C.M. (CCH) 550; T.C.M. (RIA) 63119;
April 26, 1963
Held, petitioner C. Leo Fender was not taxable on bonus payments received in 1956 and 1957 to the extent such bonuses were returned in the year of receipt to his employer.
Held further, petitioner Fender Instrument Co. did not understate its salary expense deduction in the year 1956, and it did not overstate its miscellaneous income in the year 1957.
Held…
2Cases cited30 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- Tyler v. United StatesSupreme Court of the United States · 1930
- Helvering v. American Dental Co.Supreme Court of the United States · 1943
- Challenge Mfg. Co. v. CommissionerUnited States Tax Court · 1962
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