Memorandum Opinion
ATKINS, Judge:
The respondent determined deficiencies in income tax for the taxable years 1959, 1960, and 1961 in the respective amounts of $4,647.17, $2,019.48, and $2,980.47. The issue presented is whether the withdrawal of funds by the petitioner during the years in issue from the Beckley Hardware and Supply Company (hereinafter referred to as the company) constituted loans to him, or distributions to him taxable as dividends under...
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