L. R. Schmaus Co., Inc. v. Commissioner of Internal Revenue

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• no bona fide business purpose found and no proximate relationship to the corporation's business found for wife's presence on trips where husband was sole shareholder of petitioner
• “[I]f an officer of the company owns all the stock, he may use the corporate assets as he sees fit and there can be no misappropriation of corporate assets by him.”

Source: CourtListener parenthetical corpus (CC0).