Case law

Stewart v. Commissioner

16 T.C. 1 · United States Tax Court · Jan 5, 1951

Turning to the facts in the instant case, we find that petitioner filed decedent’s will and duly qualified as independent executrix shortly after decedent’s death on May 22, 1938. … On that date, the partnership established by the partnership agreement of January 2, 1935, terminated and any partnership which continued thereafter had to be a new partnership.

Nicole Rose Corp. v. Comm'r

117 T.C. 328 · United States Tax Court · Dec 28, 2001

In support, petitioner cites case authority and respondent’s rulings for the proposition that payments extinguishing lease obligations may qualify as ordinary and necessary business expense deductions. Hort v. … The participation of highly paid professionals provides petitioner no protection, excuse, justification, or immunity from the penalties in issue.

Fincher v. Commissioner

105 T.C. 126 · United States Tax Court · Aug 24, 1995

The order establishing conservatorship stated that officers of the S & L would serve in accordance with the directions and under the authority of the conservator. The S & L was closed for liquidation on Apr. 28, 1988. … Petitioners' reading of the statute is clearly at odds with its language.

Ad Investment 2000 Fund LLC, Community Media, Inc., A Partner Other Than the Tax Matters Partner v. Commissioner

142 T.C. No. 13 · United States Tax Court · Apr 16, 2014

Commissioner, 119 T.C. 27, 37 (2002), in which the taxpayer "asserted reliance on qualified experts as an affirmative defense to respondent's fraud penalty allegations." … They maintain only that their actions were lawful or that any rights violated were not clearly established.

Chamberlin v. Commissioner

32 T.C. 1098 · United States Tax Court · Aug 20, 1959

In the instant case the record, including more particularly Chamberlin’s own pleadings and testimony and also both instruments of “assignment” that were obtained by him, clearly discloses the history, character, purpose, … close corporation could, after authorizing “assignments” to themselves of substantially all the corporation’s income for an indefinite future period, surrender to the corporation some property of uncertain value; thereby establish

Heide v. Commissioner

8 T.C. 314 · United States Tax Court · Feb 17, 1947

Clark qualified in 1915 as executor and residuary trustee under the will of one Taylor who died a resident of Philadelphia County, Pennsylvania. … Clearly, also, the fees were not paid ‘for the management, conservation or maintenance of property held for the production of income’.” I submit that the instant case is not distinguishable from the Clark case.

F. W. Woolworth Co. v. Commissioner

54 T.C. 1233 · United States Tax Court · Jun 15, 1970

delineate the outer limits of taxes that will qualify as “in lieu” taxes under section 903. … These cases are readily distinguishable from the case at bar inasmuch as they all involve taxes imposed upon gross income or gross sales and consequently clearly qualify as “in lieu” taxes within the legislative purpose underlying

International Trading Co. v. Commissioner

57 T.C. 455 · United States Tax Court · Dec 28, 1971

The Supreme Court applied this established rule of statutory construction to a revenue act in Helvering v. Owens, 305 US. 468 (1939). … A nonbusiness asset such as the Beaver Lake property would not qualify for depreciation, and accordingly there would be no depreciation allowance to help generate a net operating loss for a corporation.

Estate of Skifter v. Commissioner

56 T.C. 1190 · United States Tax Court · Aug 26, 1971

Prior to his death Skifter established substantially identical “accumulation” trusts for each of his three grandchildren. … The power retained by the decedent here clearly amounted to an ability to “designate” beneficiaries within the meaning of section 2036(a) (2). Estate of Arthur J. O'Connor, 54 T.C. at 973 .

Summa Holdings, Inc. v. Comm'r

109 T.C.M. 1612 · United States Tax Court · Jun 29, 2015

Curci. 2 We may disregard a stipulation of fact when the stipulation is clearly contrary to facts disclosed by the record. Cal-Maine Foods, Inc. v. Commissioner, 93 T.C. 181, 195 (1989). … Respondent argues that simply labeling the payments DISC commissions does not immunize the payments from the application of substance over form principles.

Ecclesiastical Order of ISM of AM, Inc. v. Commissioner

80 T.C. 833 · United States Tax Court · May 2, 1983

This counseling is clearly not religious, nor does it qualify as "educational” within the context of section 501(c)(3). … Finally, petitioner argues that denial of its tax-exempt status request would violate the establishment and free exercise clauses of the First Amendment and its equal protection rights under the due process clause of the

American Bronze Corp. v. Commissioner

64 T.C. 1111 · United States Tax Court · Sep 30, 1975

Corp., 48 T.C. 483 , affd. 393 F.2d 269 (3d Cir. 1968), were clearly satisfied. Respondent concedes, however, that there was no liquidation, formal or de facto, of Cleveland Brass prior to the merger. … This distinction does not, however, suffice to establish respondent’s theory.

Blauvelt v. Commissioner

4 T.C. 10 · United States Tax Court · Sep 21, 1944

There is no evidence here to establish the time petitioners acquired their stock, but the respondent assumes the purchase to have been after March 1, 1913, and, since petitioners merely argue that the time of acquisition … Under the provisions of section 22 (e), section 115 (b) qualifies the general term “gains” in section 22 (a).

Maher v. Commissioner

55 T.C. 441 · United States Tax Court · Dec 10, 1970

Clearly, taxpayer here, who (after application of the attribution rules) was the sole shareholder of the corporation both before and after the redemption, did not qualify under this test. la tbe instant case there was no … In our opinion no assessment, notice, or other act of the respondent is necessary to establish liability for income taxes.

Browning v. Commissioner

109 T.C. 303 · United States Tax Court · Nov 25, 1997

The maximum price was paid for the best qualified farmland as determined by a formula adopted by the county, and lesser amounts were paid for lesser qualified farmland. … However, if the donor or a related person receives, or can reasonably expect to receive, a financial or economic benefit that is substantial, but it is clearly shown that the benefit is less than the amount of the transfer

Durovic v. Commissioner

54 T.C. 1364 · United States Tax Court · Jun 24, 1970

The ruling requests were made at a time when petitioner and his brother were more preoccupied with establishing a center, the Institute, for the treatment of cancer, than with establishing their tax status. … Clearly, therefore, bad they originally filed individual returns for these years, their election in 1965 to file joint returns would have been untimely.

Miller v. Commissioner

51 T.C. 755 · United States Tax Court · Feb 17, 1969

To qualify for the credit an individual is required to have had earned income in excess of $600 in any 10 prior calendar years. … No. 299, 84th Cong., 1st Sess., approved Aug. 9, 1955, extended the retirement credit to individuals, regardless of age, receiving benefits under a retirement system established for members of the Armed Forces of the united

Luckman v. Commissioner

50 T.C. 619 · United States Tax Court · Jul 24, 1968

That one purpose of section 421 (a) (3) was to prevent such taxation is clearly shown by the examples in the regulations promulgated under 130A in 1952. … Options which do not qualify as “restricted stock options” will continue to be taxed under existing law. * * * * ^ * * Since the options which qualify for special treatment are regarded as incentive devices rather than compensation

Dearborn Gage Co. v. Commissioner

48 T.C. 190 · United States Tax Court · May 19, 1967

Ell-strom were the sole partners, were transferred to petitioner in a transaction qualifying under section 351. … The period of its own use, namely, from May 1, 1957, to November 30, 1960, or slightly more than 2y2 years, is too short a period to establish consistency. Photo-Sonics, Inc., supra.

Estate of Smith v. Commissioner

79 T.C. 974 · United States Tax Court · Dec 2, 1982

This language clearly states decedent’s desire that her husband have an unlimited power to dispose of the trust principal in any way he pleased. … In addition, decedent’s failure to establish remaindermen to whom the trust principal would go if her husband died without exercising his power of appointment indicates that decedent’s testamentary intent would not be foiled