Perry v. Commissioner
United States Board of Tax Appeals
1. Section 201(c) of the Revenue Act of 1918, providing that distributions in liquidation of a corporation shall be treated as payments in exchange for stock, has no application to a dividend declared from profits where at the time of the declaration the corporation is not in dissolution and there is no retirement of the capital stock in whole or in part. 2. Dividends declared from earnings with no provision for retirement of any part of the capital stock, do not fall within…
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1. Section 201(c) of the Revenue Act of 1918, providing that distributions in liquidation of a corporation shall be treated as payments in exchange for stock, has no application to a dividend declared from profits where at the time of the declaration the corporation is not in dissolution and there is no retirement of the capital stock in whole or in part. 2. Dividends declared from earnings with no provision for retirement of any part of the capital stock, do not fall within the term "distribution in liquidation" although at the time of declaration there may have existed an intent to dissolve…
1Opinion of the Court
E. G. PERRY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
V. K. PERRY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Perry v. Commissioner
Docket Nos. 9023, 9022.
United States Board of Tax Appeals
9 B.T.A. 796; 1927 BTA LEXIS 2512;
December 22, 1927, Promulgated
1. Section 201(c) of the Revenue Act of 1918, providing that distributions in liquidation of a corporation shall be treated as payments in exchange for stock, has no application to a dividend declared from profits where at the time of the declaration the corporation is not in dissolution and there is no…
2Cases cited1 opinion
- Perry v. CommissionerUnited States Board of Tax Appeals · 1927