Commissioner of Internal Revenue v. Cohen

HOLMES, Circuit Judge.

These two petitions for review, consolidated for hearing and decision in this court, present two questions:(1) Whether a dividend on stock held by the decedent which was declared prior to the date of his death but was payable to stockholders of record on a date subsequent to his death should be accrued as part of decedent’s gross income pursuant to Section 42 of the Revenue Act of 1934, 26 U. S.C.A.Int.Rev.Code § 42.(2) Whether, under Section 115 of the Revenue Act of 1934, 26 U.S.C.A.Int.Rev. Code, § 115, certain advances made to a stockholder during his lifetime…