CLARK, Circuit Judge.
The case at bar is summed up in the language of the Prentice Hall Service as follows: "4831-A. Dividend of personal holding company held not paid within taxable year. — A personal holding corporation on a cash basis declared a dividend one day prior to the close of its fiscal year. Its sole stockholder, who alone had authority to pay out funds, was in a distant state and was not informed of the dividend until after the close of the fiscal...
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