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CROSBY v. UNITED STATES

No. 73-2928.

496 F.2d 1384 (1974)

Mr. R. H. CROSBY and Mrs. V. Ethel Crosby (Mrs. V. Ethel Crosby, as Executrix of the Estate of R. H. Crosby, substituted in the place and stead of R. H. Crosby, Deceased), Plaintiffs-Appellees, v. UNITED STATES of America, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

July 5, 1974.

Attorney(s) appearing for the Case

Robert E. Hauberg, U. S. Atty., Joseph E. Brown, Jr., Asst. U. S. Atty., Jackson, Miss., Scott P. Crampton, Asst. Atty. Gen., Meyer Rothwacks, Jack D. Warren, Bennet N. Hollander, Louis A. Bradbury, Attys., Tax Div., Dept. of Justice, Washington, D. C., for defendant-appellant.

Floyd J. Logan, Gulfport, Miss., for plaintiffs-appellees.

Before COLEMAN, CLARK and GEE, Circuit Judges.

CLARK, Circuit Judge:

Did expenditures by a family corporation allegedly made for the personal benefit of the chairman of the board of directors and his wife constitute constructive dividend income to them?1 The district court's answer was in the negative. Finding a portion of that answer tainted by its erroneous construction of a deed instrument which establishes the legal relationship between these parties, we vacate and remand in part...

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