Bibb v. Commissioner
United States Tax Court
Held, that withdrawals of funds by petitioner from a closely held corporation of which he was a stockholder constituted dividends rather than loans.
1Opinion of the Court
Clarence L. Bibb v. Commissioner.
Bibb v. Commissioner
Docket No. 2117-63.
United States Tax Court
T.C. Memo 1965-296; 1965 Tax Ct. Memo LEXIS 35; 24 T.C.M. (CCH) 1640; T.C.M. (RIA) 65296;
November 8, 1965
Held, that withdrawals of funds by petitioner from a closely held corporation of which he was a stockholder constituted dividends rather than loans.
William H. File, P. O. Drawer L, Beckley, W. Va., for the petitioner. Rodney G. Haworth, for the respondent.
ATKINS
Memorandum Opinion
ATKINS, Judge: The respondent determined deficiencies in income tax for the taxable years 1959, 1960, and 1961 in the…
2Cases cited16 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- Eli D. Goodstein v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Eli D. GoodsteinCourt of Appeals for the First Circuit · 1959
- Helvering v. Midland Mutual Life InsuranceSupreme Court of the United States · 1937
- Gene O. Clark and Faye Clark v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
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