Gouldman v. Commissioner of Internal Revenue

SOPER, Circuit Judge.

This is an appeal from a decision of the Tax Court which upheld an income tax deficiency and penalty in the aggregate sum of $3,111.08 assessed by the Commissioner of Internal Revenue for the year 1941. The principal issue is whether the Tax Court erred in holding that a dividend on stock originally issued to the taxpayer but later transferred by him to his son was taxable to the taxpayer. There is also involved the question whether the Commissioner properly assessed a 5 per cent, negligence penalty as to this item, and also on two other items of income which, it is now…