P. Hagerty Shoe Co. v. Commissioner

*1035OPINION.

Lote:

We have heretofore held in L. S. Ayers & Co., 1 B. T. A. 1135, that the invested capital of a corporation may not be reduced in determining the extent to which dividends are paid from current earnings by a “ tentative tax ” theoretically set aside out of such earnings and prorated over the year.

Judgment will he entered u/nder Bule 50.