CLARK, Circuit Judge.
Presented by this petition for review is a narrow issue arising out of interesting and peculiar circumstances not likely to be often, if ever, repeated. The question is whether petitioner, a personal holding company, succeeded in making distribution of its income in 1942 so as to avoid the heavy surtax assessed under I.R.C. § 500, 26 U.S.C. § 500. Petitioner was then owned by Mr. and Mrs. Charles E. Bedaux, the husband owning 10 per...
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