Court Opinion

ID: 4495773
Source: CourtListenerOpinion
Date Created: 2020-01-23 18:14:30.609133+00
Date Added: 2024-06-11T08:48:35.283565
License: Public Domain

Arundell,
dissenting: I disagree with the holding in the majority report to the effect that petitioner received in 1929 750 shares of stock of the Northwest Bancorporation. As a matter of fact, the shares were not received by the taxpayer within that year, either actually or constructively. He had no right within the year to demand their delivery and indeed did not receive them until the years 1931 and 1932. In 1929 it was not definitely known if he would ever receive the shares in question. Under such circumstances it seems to me that the conclusion reached in the majority opinion on this point is wrong. Commissioner v. Cleveland Trinidad Paving Co., 62 Fed. (2d) 85; Stoner v. Commissioner, 79 Fed. (2d) 75; Preston R. Bassett, 33 B. T. A. 182. Mead Construction Co., 3 B. T. A. 438, treats of a deduction and is not ini point.
Trammell agrees with this dissent.