Cudahy v. Department of Taxation

Two questions are presented on this appeal: (1) Whether the taxpayer, Cudahy, was authorized by sec. 71.04 (4), Stats., then in effect, to deduct from the gross income listed in his individual tax returns for the four years of 1942-1945, inclusive, the amount of dividends received by him from Northern in computing his net taxable income; and (2) if the taxpayer were not so entitled to deduct such dividends, whether the Wisconsin Department of Taxation is estopped from assessing the additional income tax due against taxpayer by reason of his having deducted said dividends.

Sec. 71.04, Stats.…