Edward Malley Co. v. Commissioner

Board of Tax Appeals

Edward Malley Co. v. Commissioner

6 B.T.A. 462, 1927 BTA LEXIS 3504

CourtUnited States Board of Tax Appeals

DecidedMarch 10, 1927

DocketDocket No. 9677.

StatusPublished

Cited by1 cases

This text of 6 B.T.A. 462 (Edward Malley Co. v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Edward Malley Co. v. Commissioner, 6 B.T.A. 462, 1927 BTA LEXIS 3504 (bta 1927).

Pincite

Opinion

OPINION.

Littleton:

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]*463The 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.

Free access — add to your briefcase to read the full text and ask questions with AI