Walker v. Commissioner
United States Board of Tax Appeals
Action of respondent in holding that a payment made by a corporation to its stockholder in the tax year was taxable income to him, sustained.
1Opinion of the Court
*495OPINION.
Lansdon:
The petitioner has introduced much evidence to show that at all times here material the corporation had a paid-in surplus greater than the distribution here questioned; and contends that in view of the authority granted to it by the Commissioner of Corporations of the State of California to disburse such surplus, and the action of its board of directors directing the same, it must be presumed that the payment to him was made therefrom and not from earnings accrued after the date of incorporation. In our opinion the taxability of the distribution in question is determined by…
2Cases cited1 opinion
- Douglas v. EdwardsCourt of Appeals for the Second Circuit · 1924
3Cited by6 opinions
- Commissioner v. MakranskyCourt of Appeals for the Third Circuit · 1963
- Makransky v. CommissionerUnited States Tax Court · 1961
- Commissioner of Internal Revenue, in No. 13,785 v. Robert Makransky, of the Estate of Harry Makransky, and Helen Makransky. Commissioner of Internal Revenue, in Nos. 13,786, 13,787 v. Emanuel Moss and Sylvia Moss. Commissioner of Internal Revenue, in Nos. 13,788, 13,789 v. Hilda B. Schneider. Trust Under Deed of Joseph Binenstock (Deceased), Girard Trust Corn Exchange Bank, Theodora B. Jacobs, Sylvia B. Moss, Hilda B. Schneider (Formerly Hilda B. Raines), Helen B. Makransky, John Tait and Albert Barnes Zink, Trustees, in Nos. 13,790, 13,791 v. Commissioner of Internal Revenue, Commissioner of Internal Revenue, in Nos. 13,792, 13,793 v. Allen C. Jacobs and Theodora B. JacobsCourt of Appeals for the Third Circuit · 1963
- Faris v. CommissionerUnited States Board of Tax Appeals · 1932
- Makransky v. CommissionerUnited States Tax Court · 1961
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