Le Bus v. Commissioner
United States Board of Tax Appeals
A liquidating dividend is income to the stockholder, irrespective of the fact that the corporation may have outstanding obligations.
1Opinion of the Court
Appeal of CLARENCE LE BUS.
Le Bus v. Commissioner
Docket No. 884.
United States Board of Tax Appeals
1 B.T.A. 733; 1925 BTA LEXIS 2822;
March 9, 1925, decided Submitted February 24, 1925.
A liquidating dividend is income to the stockholder, irrespective of the fact that the corporation may have outstanding obligations.
E. C. O'Rear and Jesse I. Miller, Esqs., for the taxpayer.
George K. Bowden and Robert A. Littleton, Esqs. (Nelson T. Hartson, Solicitor of Internal Revenue) for the Commissioner.
JAMES
Before JAMES, STERNHAGEN, TRAMMELL, and TRUSSELL.
This is an appeal from a deficiency asserted by the…
2Cases cited1 opinion
- Le Bus v. CommissionerUnited States Board of Tax Appeals · 1925