Adams Tooling, Inc. v. Commissioner
United States Tax Court
Held: A portion of the compensation paid by petitioner to each of two executives (father and son) who, together, were in control of a family-owned corporation, was excessive and unreasonable for their respective services for each of the 2 years in question within the meaning of section 23(a)(1)(A) of the Code of 1939. Amount of excessive and unreasonable compensation determined.
1Opinion of the Court
Adams Tooling, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Adams Tooling, Inc. v. Commissioner
Docket No. 68486
United States Tax Court
33 T.C. 65; 1959 U.S. Tax Ct. LEXIS 61;
October 21, 1959, Filed
Decision will be entered under Rule 50.
Held: A portion of the compensation paid by petitioner to each of two executives (father and son) who, together, were in control of a family-owned corporation, was excessive and unreasonable for their respective services for each of the 2 years in question within the meaning of section 23(a)(1)(A) of the Code of 1939. Amount of excessive and…
2Cases cited1 opinion
- Adams Tooling, Inc. v. CommissionerUnited States Tax Court · 1959