Clay v. Commissioner
United States Board of Tax Appeals
PERSONAL HOLDING COMPANY INCOME REPORTED BY STOCKHOLDER. - Where a sole stockholder of a personal holding company elects to be taxed under section 351(d) of the Revenue Act of 1934, the Commissioner may increase to the correct amount the amount she reports as her entire share of the adjusted net income of the corporation.
1Opinion of the Court
ZAIDA CLAY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Clay v. Commissioner
Docket No. 93356.
United States Board of Tax Appeals
40 B.T.A. 562; 1939 BTA LEXIS 832;
September 15, 1939, Promulgated
PERSONAL HOLDING COMPANY INCOME REPORTED BY STOCKHOLDER. - Where a sole stockholder of a personal holding company elects to be taxed under section 351(d) of the Revenue Act of 1934, the Commissioner may increase to the correct amount the amount she reports as her entire share of the adjusted net income of the corporation.
M. E. Kilpatrick, Esq., for the petitioner.
L. W. Creason, Esq., for…
2Cases cited6 opinions
- Pacific National Co. v. WelchSupreme Court of the United States · 1938
- Collateral Mortg. & Inv. Co. v. CommissionerUnited States Board of Tax Appeals · 1938
- Curtis v. CommissionerUnited States Board of Tax Appeals · 1937
- Automobile Loans, Inc. v. CommissionerUnited States Board of Tax Appeals · 1937
- Clay v. CommissionerUnited States Board of Tax Appeals · 1939
1 more not listed; retrieve them via the Exa API.