Wm. J. Lemp Brewing Co. v. Commissioner

OPINION.

LeMuse, Judge:

The first issue presents the question whether, during the taxable years involved, the petitioner was a personal holding company, as determined by the respondent, or a joint venture, as contended by the petitioner. There can be no dispute that the petitioner meets the two requirements specified in section 501 of the Internal Eevenue Code for classification as a personal holding company in the event it is held not to be a joint venture; The burden is upon the petitioner to establish the existence of a joint venture. A joint venture has been defined to be a “special…