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