Case Name: Belmont Iron Works, Petitioner, v. Commissioner of Internal Revenue, Respondent
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1927-04-06
Citations: 6 B.T.A. 722
Docket Number: Docket No. 10454
Parties: Belmont Iron Works, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: 
Reporter: Reports of the United States Board of Tax Appeals
Volume: 6
Pages: 722–722

Head Matter:
Belmont Iron Works, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 10454.
Promulgated April 6, 1927.
Lawrence A. Baker, Esq., for the petitioner.
L. G. Mitchell, Esq., for the respondent.

Opinion:
OPINION.
Phillips :
The decision in this appeal is controlled by the decisión of the Board in the Appeal of L. S. Ayers & Co., 1 B. T. A. 1135, where it was held that in computing invested capital the earnings available for the payment of a dividend are not to be reduced by a theoretical or tentative tax.
Decision will be entered, on W days' notice, under Rule 50.