Joseph v. Meister, David Lewittes, Morris Lewittes, Charlotte Lewittes and Fannie Lewittes v. Commissioner of Internal Revenue

ANDERSON, District Judge.

Petitioners are transferees upon liquidation of the corporate taxpayer against whom the Commissioner assessed a deficiency for the tax year which ended September 30, 1951. Payment of a liquidating dividend to them left the corporate taxpayer unable to pay any deficiency which might be found due. There is no dispute as to petitioners’ liability, to the extent of the liquidating dividend each received, in the event it is found that the alleged deficiency was correctly assessed. The Tax Court upheld the Commissioner’s determination of a deficiency, though in a slightly…