Russel v. Commissioner
United States Board of Tax Appeals
1. Where salary of $8,400 paid during 1930 by a corporation to taxpayer as president thereof was reduced by agreement to $4,200 and $4,200 was returned by taxpayer to such corporation, all before the close of 1930, the $4,200 returned by the taxpayer was not income taxable to him in 1930. 2. Where trustees, under the express provisions of a trust created in 1927 prior to the death of grantor in 1930, paid out of income and not corpus the portion of the state inheritance…
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1. Where salary of $8,400 paid during 1930 by a corporation to taxpayer as president thereof was reduced by agreement to $4,200 and $4,200 was returned by taxpayer to such corporation, all before the close of 1930, the $4,200 returned by the taxpayer was not income taxable to him in 1930. 2. Where trustees, under the express provisions of a trust created in 1927 prior to the death of grantor in 1930, paid out of income and not corpus the portion of the state inheritance taxes assessed against the estate of the grantor upon the interests of the three beneficiaries of the trust and distributed…
1Opinion of the Court
OPINION.
ARUndell:
This proceeding involves a deficiency in income taxes for 1930 in the amount of $3,532.16. Various errors in the computation of such deficiency -were assigned by the petitioner, but upon hearing all except two thereof were withdrawn. The questions in controversy are whether the Commissioner erred in increasing the taxable income of the petitioner by adding thereto (l)'the amount of $1,200 claimed to represent salary received by the petitioner during 1930 from the Detroit' Bevel Gear Co., and (2) the amount of $18,021.35 claimed to represent a part of petitioner’s distributive…
2Cases cited5 opinions
- Freuler v. HelveringSupreme Court of the United States · 1934
- Merchants' Loan & Trust Co. v. SmietankaSupreme Court of the United States · 1921
- Anderson v. WilsonSupreme Court of the United States · 1933
- United States v. MitchellSupreme Court of the United States · 1926
- Keith v. JohnsonSupreme Court of the United States · 1926
3Cited by11 opinions
- Leicht v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1943
- Jacksonville Paper Co. v. CommissionerUnited States Tax Court · 1954
- Jones v. CommissionerUnited States Tax Court · 1984
- Springfield Productions, Inc. v. CommissionerUnited States Tax Court · 1979
- Estate of Arthur E. Kechijian v. Comm of Internal RevenueCourt of Appeals for the Fourth Circuit · 2020
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