LIMERICKS, INC. v. COMMISSIONER OF INTERNAL REVENUE

No. 12025.

165 F.2d 483 (1948)

LIMERICKS, Inc., et al. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

January 23, 1948.


Attorney(s) appearing for the Case

Howell Ward, of Corpus Christi, Tex., for petitioners.

Austin Hoyt, Sewall Key, Helen R. Carloss and Maryhelen Wigle, Sp. Assts. to Atty. Gen., Theron L. Caudle, Asst. Atty. Gen., and Charles Oliphant and Bernard D. Daniels, both of Washington, D. C., for respondent.

Before SIBLEY, HOLMES, and WALLER, Circuit Judges.


HOLMES, Circuit Judge.

This petition for review involves a deficiency in federal income and excess profits taxes for the years 1941, 1942, and 1943. The question presented is whether certain amounts paid by the taxpayers' transferor during the period in question to its president and principal stockholder as part of rent for a building used by the corporation constituted in reality a distribution of profits.

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