Case: Corbett & Stuart, Petitioner, v. Commissioner of Internal Revenue, Respondent
Abbreviation: Corbett v. Commissioner
Decision Date: 1928-04-12
Docket Number: Docket No. 11855
Citation: 11 B.T.A. 540
Volume: 11
Reporter: Reports of the United States Board of Tax Appeals
Court: United States Board of Tax Appeals
Jurisdiction: United States
Parties: Corbett & Stuart, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: 
Pages: 540–541

Head Matter:
Corbett & Stuart, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 11855.
Promulgated April 12, 1928.
William Dogger, Esq., for the petitioner.
A. G. Baird, Esq., for the respondent.

Opinion:
OPINION.
Smith
: The question presented by this proceeding has been before the Board in L. S. Ayers & Co., 1 B. T. A. 1135, wherein we held that the invested capital of a corporation might not be reduced in determining the extent to which a dividend is paid from current earnings of a year by a " tentative tax " theoretically set aside out of such earnings pro rata over such year. The position there taken was reaffirmed in All America Cables, Inc., 10 B. T. A. 213. These decisions are controlling in this case.
Judgment will be entered on 15 days' notice, wider Rule 50.