# Wood v. Commissioner > United States Board of Tax Appeals · November 29, 1932 · 27 B.T.A. 162 URL: https://www.frixlaw.com/law-library/cases/4492865 ## Case - **Full name:** FRED T. WOOD, v. COMMISSIONER OF INTERNAL REVENUE - **Court:** United States Board of Tax Appeals - **Decided:** November 29, 1932 - **Citations:** 27 B.T.A. 162; 1932 BTA LEXIS 1109 - **Precedential status:** Published - **Opinion:** Dissent by Smith - **Judges:** Foss, Smith, Goodrich - **Cited by:** 13 later opinions in the Frix Law Library ## Citator (automated) - No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases. - Full citator and citing cases: https://www.frixlaw.com/law-library/cases/4492865 ## How later opinions describe it (automated extraction) - applying a similar definition ## Opinion text Smith, dissenting: The respondent has treated the 1925 dividends, to the amount of the corporation’s surplus at the date of the payment of the dividends ($50,204.18), as ordinary dividends under section 210 (a) of the Revenue Act of 1926. The respondent followed the letter of the law in such treatment. There were no distributions in complete liquidation under section 201 (d) in 1925, and none in partial liquidation as that term is defined in section 201 (h), which subdivision reads: As used in this section the term “ amounts distributed in partial liquidation ” means a distribution by a corporation in complete cancellation or redemption of a part of its stock, or one of a series of distributions in complete cancellation or redemption of all or a portion of its stock. There was clearly an intent that the dividend of $60 per share declared in 1925 should be a liquidating dividend. The petitioner recognized, however, that the dividend of $90 per share in 1925 was *168 not in partial liquidation of his stock and returned the amount as a taxable dividend in his original return. There was no actual liquidation until 1927. --- Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/4492865. Public record. Not legal advice.