Holmes v. Commissioner
United States Board of Tax Appeals
1. Early in the taxable year 1933 some of the directors succeeded in displacing petitioner as president and chairman of the executive committee of the Texas Corporation, and on May 5, 1933, he resigned his chairmanship of the board.
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1. Early in the taxable year 1933 some of the directors succeeded in displacing petitioner as president and chairman of the executive committee of the Texas Corporation, and on May 5, 1933, he resigned his chairmanship of the board. Thereafter, during the remainder of the taxable year, petitioner paid from his personal funds $30,577.01 in expenses in the form of clerk hire, communication, stationery, supplies, postage, printing, publicity, and legal services, in notifying and making recommendations to the 90,000 stockholders of the corporation to bring about action which he thought should be…
1Opinion of the Court
RALPH C. HOLMES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Holmes v. Commissioner
Docket No. 85096.
United States Board of Tax Appeals
37 B.T.A. 865; 1938 BTA LEXIS 972;
May 17, 1938, Promulgated
1. Early in the taxable year 1933 some of the directors succeeded in displacing petitioner as president and chairman of the executive committee of the Texas Corporation, and on May 5, 1933, he resigned his chairmanship of the board. Thereafter, during the remainder of the taxable year, petitioner paid from his personal funds $30,577.01 in expenses in the form of clerk hire,…
2Cases cited9 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Flint v. Stone Tracy Co.Supreme Court of the United States · 1911
- Kornhauser v. United StatesSupreme Court of the United States · 1928
- Burnet v. ClarkSupreme Court of the United States · 1932
- Dalton v. BowersSupreme Court of the United States · 1932
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