Lazarus I. Levine and Norman L. Marks, Executors of the Estate of Samuel Stein v. Commissioner of Internal Revenue

The income tax deficiencies for 1944 and 1945 here assessed against the estate of the deceased taxpayer, Samuel Stein, were based upon findings that certain proceeds of sales of goods in Stein’s bank accounts really represented sales by Stein’s wholly owned corporation and thus were taxable first as income to the corporation and then as dividends to Stein. These findings are not here challenged, but petitioners by a motion to revise the opinion and decision of the Tax Court raised the issue that Stein had actually paid for the original purchase of goods thus sold and petitioners could…