GURTMAN v. UNITED STATES

No. 15355.

353 F.2d 212 (1965)

William N. GURTMAN and Ida Gurtman, His Wife, Appellants, v. UNITED STATES of America.

United States Court of Appeals Third Circuit.

Decided December 7, 1965.


Attorney(s) appearing for the Case

Aaron Z. Schomer, Passaic, N. J., for appellants.

Morton Z. Rothschild, Dept. of Justice, Tax Division, Washington, D. C. (John B. Jones, Jr., Acting Asst. Atty. Gen., David O. Walter, Atty., Dept. of Justice, Washington, D. C., David M. Satz, Jr., U. S. Atty., on the brief), for appellee.

Before HASTIE, GANEY, and FREEDMAN, Circuit Judges.


PER CURIAM:

This appeal has been taken from a district court judgment for the government in a suit by taxpayers to recover an alleged overpayment of income tax. The decision below was based upon essentially factual findings that certain informal withdrawals of money from a corporation by its sole stockholder were not loans and had been properly taxed as dividends.

There is no dispute about the legal concept of loan. And we are satisfied that the circumstances...

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