William N. Gurtman and Ida Gurtman, His Wife v. United States

Third Circuit

William N. Gurtman and Ida Gurtman, His Wife v. United States

353 F.2d 212, 16 A.F.T.R.2d (RIA) 6021

CourtCourt of Appeals for the Third Circuit

DecidedDecember 7, 1965

Docket15355_1

StatusPublished

This text of 353 F.2d 212 (William N. Gurtman and Ida Gurtman, His Wife v. United States) is published on Counsel Stack Legal Research, covering Court of Appeals for the Third Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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William N. Gurtman and Ida Gurtman, His Wife v. United States, 353 F.2d 212, 16 A.F.T.R.2d (RIA) 6021 (3d Cir. 1965).

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Opinion

PER CURIAM:

This appeal has been taken from a district court judgment for the government in a suit by taxpayers to recover an alleged overpayment of income tax. The decision below was based upon essentially factual findings that certain informal withdrawals of money from a corporation by its sole stockholder were not loans and had been properly taxed as dividends.

There is no dispute about the legal concept of loan. And we are satisfied that the circumstances and conduct tending to indicate the absence of obligation to repay the sums withdrawn were sufficient in this case to justify the conclusion reached by the trial court.

The judgment will be affirmed.

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PER CURIAM:

This appeal has been taken from a district court judgment for the government in a suit by taxpayers to recover an alleged overpayment of income tax. The decision below was based upon essentially factual findings that certain informal withdrawals of money from a corporation by its sole stockholder were not loans and had been properly taxed as dividends.

There is no dispute about the legal concept of loan. And we are satisfied that the circumstances and conduct tending to indicate the absence of obligation to repay the sums withdrawn were sufficient in this case to justify the conclusion reached by the trial court.

The judgment will be affirmed.

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Bluebook (online)

353 F.2d 212, 16 A.F.T.R.2d (RIA) 6021, Counsel Stack Legal Research, https://law.counselstack.com/opinion/william-n-gurtman-and-ida-gurtman-his-wife-v-united-states-ca3-1965.