Vogue Silk Hosiery Co. v. Commissioner
United States Board of Tax Appeals
1. Held, that in the circumstances herein the par value of stock issued as a bonus to officers as additional salary for services rendered is not deductible from petitioner's income as ordinary and necessary expenses. 2. Petitioner's claim for additional depreciation denied.
1Opinion of the Court
THE VOGUE SILK HOSIERY COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Vogue Silk Hosiery Co. v. Commissioner
Docket Nos. 51107, 64632.
United States Board of Tax Appeals
27 B.T.A. 131; 1932 BTA LEXIS 1124;
November 23, 1932, Promulgated
1. Held, that in the circumstances herein the par value of stock issued as a bonus to officers as additional salary for services rendered is not deductible from petitioner's income as ordinary and necessary expenses.
2. Petitioner's claim for additional depreciation denied.
George J. Edwards, Jr., Esq., and Hiram B. Calkins, Esq., for the…
2Cases cited7 opinions
- Cleveland Home Brewing Co. v. CommissionerUnited States Board of Tax Appeals · 1924
- Gould-Mersereau Co. v. CommissionerUnited States Board of Tax Appeals · 1931
- Marble & Shattuck Chair Co. v. CommissionerUnited States Board of Tax Appeals · 1928
- Kehota Mining Co. v. CommissionerUnited States Board of Tax Appeals · 1926
- Vogue Silk Hosiery Co. v. CommissionerUnited States Board of Tax Appeals · 1932
2 more not listed; retrieve them via the Exa API.