
    P. Hagerty Shoe Co., Petitioner, v. Commissioner of Internal Revenue, Respondent.
    Docket No. 16023.
    Promulgated March 22, 1929.
    
      James 0. Triff, Esq., for the petitioner.
    
      T. M. Mather, Esq., for the respondent.
   OPINION.

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.  