C. F. Mueller Co. v. Commissioner

1. The difference between payments on subscriptions to building and loan association shares and the amount received upon maturity of the shares, is not taxable in its entirety to the shareholder in the year of maturity, where the shareholder has consistently for all years accrued annually on his books and included in his income the net annual increase in the withdrawal value of the shares resulting from dividends declared and credited annually to his account on the books of the association, but only so much of the gain as has not been accrued in prior years is taxable as a dividend in the…