Edward Malley Co. v. Commissioner
6 B.T.A. 462, 1927 BTA LEXIS 3504
United States Board of Tax Appeals·Decided March 10, 1927·No. Docket No. 9677.·Published·Cited by 1 cases
Opinion
OPINION.
The Commissioner erred in reducing invested capital on account of a tentative'tax upon current earnings available for the payment of the two dividends of $45,000 on April 9, 1919, and April 21, 1920. See Appeal of L. S. Ayers & Co., 1 B. T. A. 1135.
[463] The Commissioner correctly reduced earned surplus in each of the years by the prorated amount of-the preceding year’s income and profits tax. Appeal of Russel Wheel & Foundry Co., 3 B. T. A. 1168.
Judgment will Toe entered on 15 days’ notice, under Rule 50.
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Edward Malley Co. v. Commissioner, 6 B.T.A. 462, 1927 BTA LEXIS 3504 (bta 1927).
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Edward Malley Co. v. Commissioner
6 B.T.A. 462 (Board of Tax Appeals, 1927)