Legal Opinion
Benjamin D. And Madeline Prentice Gilbert v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided September 26, 1957No. 24469_1PublishedCited by 266 opinions
1Opinion of the Court
MEDINA, Circuit Judge.
This case presents a recurrent problem in the income tax field, namely whether advances by a taxpayer to his corporation will be treated as loans for tax purposes.
The facts are fully stated in the findings and opinion of the Tax Court, 15 T.C.M. 688, but the following abbreviated summary will serve as background to the ensuing discussion. The critical question in the case is: what is the principle to be applied by the finder of the facts in determining whether a given advance of money by a shareholder to a closely held corporation is a loan within the meaning of the…
2Cases cited24 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Higgins v. SmithSupreme Court of the United States · 1940
- Dobson v. CommissionerSupreme Court of the United States · 1944
19 more not listed; retrieve them via the Exa API.
3Cited by266 opinions
- Bixby v. CommissionerUnited States Tax Court · 1972
- Knetsch v. United StatesSupreme Court of the United States · 1960
- Estate of Sydney S. Baron, Sylvia S. Baron, Administratrix, and Sylvia S. Baron v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1986
- Carl E. Weller and Emily I. Weller v. Commissioner of Internal Revenue, W. Stuart Emmons v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1959
- Goodstein v. CommissionerUnited States Tax Court · 1958
261 more not listed; retrieve them via the Exa API.