Baker v. Commissioner
United States Tax Court
T received interest-free loans from a family corporation of which he was an officer-stockholder. Held: T did not realize any taxable income based upon his use or enjoyment of such tax-free loans. Stare decisis requires that Dean v. Commissioner, 35 T.C. 1083 (1961), be followed in the circumstances of this issue, nor is Dean inapplicable on this record by reason of T's investments in federally tax-exempt securities.
1Opinion of the Court
Jack and Florence Baker, Petitioners v. Commissioner of Internal Revenue, Respondent
Baker v. Commissioner
Docket No. 3914-77
United States Tax Court
75 T.C. 166; 1980 U.S. Tax Ct. LEXIS 36;
October 22, 1980, Filed
Decision will be entered under Rule 155.
T received interest-free loans from a family corporation of which he was an officer-stockholder. Held: T did not realize any taxable income based upon his use or enjoyment of such tax-free loans. Stare decisis requires that Dean v. Commissioner, 35 T.C. 1083 (1961), be followed in the circumstances of this issue, nor is Dean inapplicable on this…
2Cases cited14 opinions
- Dean v. CommissionerUnited States Tax Court · 1961
- Greenspun v. CommissionerUnited States Tax Court · 1979
- Albert Suttle and Grace E. Suttle v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1980
- Zager v. CommissionerUnited States Tax Court · 1979
- New Mexico Bancorporation & Subsidiaries v. CommissionerUnited States Tax Court · 1980
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