Weisberger v. Commissioner
United States Board of Tax Appeals
Respondent sustained in treating as liquidating dividends the excess over the cost of corporate stock of the amounts received by petitioner from the corporation, including advances made to him in prior years.
1Opinion of the Court
*86OPINION.
Goodkicii :
The issue here is one of fact — whether the distributions by the company to petitioner and the other stockholders were loans, or distributions in liquidation. Petitioner contends that they were bona fide loans; that the corporation was not in liquidation in either 1926 or 1927, and therefore, that no distributions in liquidation were made in those years. In the alternative he contends that if his withdrawals in 1927 were liquidating dividends, only $41,250 should be included in his income, since that is the amount he received in cash that year. We reject both these…
2Cases cited3 opinions
- L. J. Christopher Co. v. CommissionerUnited States Board of Tax Appeals · 1928
- Cohen v. CommissionerUnited States Board of Tax Appeals · 1933
- Hunt v. CommissionerUnited States Board of Tax Appeals · 1927
3Cited by1 opinion
- Weisberger v. CommissionerUnited States Board of Tax Appeals · 1933