(DOWNLOAD) "Hughes v. Commissioner of Internal Revenue." by Fifth Circuit Circuit Court Of Appeals # Book PDF Kindle ePub Free

eBook details

Title: Hughes v. Commissioner of Internal Revenue.
Author : Fifth Circuit Circuit Court Of Appeals
Release Date : January 21, 1946
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 62 KB

Description

On April 1, 1940, the petitioner, J. W. Hughes, transferred to his wife 82 1/2 shares of stock in Southeastern Stages, Inc., and in December following a dividend was declared and paid in the companys notes which were themselves paid the following year. This dividend was not included by Hughes in his income tax return for 1940. The Commissioner included it, the only explanation of the adjustment being: "It is held that dividends of $6,250 on 82 1/2 shares of stock of the Southeastern Stages, Inc., are taxable to you rather than to your wife. Section 22(a) of the Internal Revenue Code."