In these actions, the taxpayers seek to recover income taxes amounting to $50,617.47 which they paid on distributions received by them as shareholders of Cook Products Corporation in 1950.
The controversy here concerns the characteristics of the distributions, i. e., whether they had been paid by the corporation out of accumulated earnings or profits, as dividends, and, therefore, taxable...
Let's get started

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.