Case law

Estate of Lammerts v. Commissioner

54 T.C. 420 · United States Tax Court · Mar 10, 1970

The taxpayer and a pharmacist named Lettman, who was then in his employ, entered into a contract to establish a new drugstore corporation (D) in a prospective shopping plaza. … Such a liquidation reincorporation transaction does not qualify for section 331 treatment. * * * [ 366 F. 2d 882, 883 .]

Harmston v. Commissioner

61 T.C. 216 · United States Tax Court · Nov 14, 1973

While it may sometimes be difficult to determine the precise point at which possession of an orange grove passes from the seller to the buyer, the facts of this case indicate quite clearly that Jon-Win retained possession … Petitioner’s right to “sell” the groves amounted to little more than a qualified right to sell his interest in the contracts, and not the absolute right of an owner of property.

Prabel v. Commissioner

91 T.C. 1101 · United States Tax Court · Dec 29, 1988

clearly reflect income. … Respondent contends that the material facts relating to Quincy Associates’ failure to clearly reflect its income are not disputed and that those facts establish that Quincy Associates’ use of the Rule-of-78’s method of accruing

Park Place, Inc. v. Commissioner

57 T.C. 767 · United States Tax Court · Mar 14, 1972

The risk of loss due to sudden damage to the apartment building is clearly on the tenant-stockholders. … establishes a period ending 8y2 months after the close of the cooperative’s calendar year.

Gerling Int'l Ins. Co. v. Commissioner

98 T.C. 640 · United States Tax Court · May 27, 1992

Petitioner's proof is clearly “questionable”. … It is therefore clearly distinguishable.

Blatt v. Commissioner

102 T.C. 77 · United States Tax Court · Jan 31, 1994

May transfers of property to *12 third parties on behalf of a spouse (or former spouse) qualify under section 1041? A-9. Yes. … The majority, however, do not clearly tell us how or why they disagree with Arnes .

Miller v. Commissioner

42 T.C. 593 · United States Tax Court · Jun 17, 1964

The elements of insolvency of the Goldmark company and lack of consideration delivered by Miller to said company have been established. … Clearly, in the instant case, attempts to collect from Goldmark would have been futile, since it has been admitted by petitioner that Goldmark has been insolvent since March 1, 1951, and has had no assets whatever since January

Canal Corp. v. Comm'r

135 T.C. 199 · United States Tax Court · Aug 5, 2010

as part of a sale or qualifies under the debt-financed distribution exception. … Such contribution and distribution transactions that occur within two years of one another are presumed to effect a sale unless the facts and circumstances clearly establish otherwise (the 2-year presumption).

Polakis v. Commissioner

91 T.C. 660 · United States Tax Court · Sep 21, 1988

Extension of the sewer trunk known as Sonoma was necessary to provide sewer service to the Mable Property and thereby qualify the property for annexation. … It is well established that a person may be engaged in more than one occupation or business through the use of agents. Achong v.

Easley v. Commissioner

8 T.C. 153 · United States Tax Court · Jan 27, 1947

Louis company clearly specified that the territory agreement could not be sold, assigned, or transferred except with its written permission. … Thus the first broad reference to the 7-Up business is at once qualified by the description of what the business consists.

Herbert v. Commissioner

30 T.C. 26 · United States Tax Court · Apr 15, 1958

* [does] not qualify for the reductions in the rate of tax provided by the Income Tax Convention between the United States and the United Kingdom.” … The provisions of article IX clearly indicate the recognition by the United States that the ownership and leasing of real property do not constitute per se engaging in trade or business.

Appleton v. Comm'r

140 T.C. 273 · United States Tax Court · May 22, 2013

The VIBIR proposed no adjustments, but the IRS did, determining that petitioner did not qualify for the section 932(c)(4) gross income exclusion. … Commissioner, 309 U.S. 304 (1940), holding that a tax return does not have to be perfect to qualify as a tax return.

Barth Smelting Corp. v. Commissioner

30 T.C. 1073 · United States Tax Court · Aug 18, 1958

Ten shares were issued as qualifying shares, and, as of September 30, 1942, the balance of the outstanding stock-holdings in Barth Refining were as follows: Otto Barth Lazare Barth Ernest Barth Hugh Simon Common_ 40 22 22 … It is clearly apparent from this record that petitioner failed to establish either commitment or consummation by petitioner and therefore we hold petitioner not entitled to any relief under the provisions of section 722 (

Baker v. Commissioner

51 T.C. 243 · United States Tax Court · Nov 12, 1968

However, the legal knowledge he obtained apparently qualified him for a substantial advancement in position with the company and also, when coupled with the law degree he obtained and his later admission to the bar, qualified … His testimony clearly shows those studies were closely associated with his current services to the corporation and were undertaken solely to help him continue to perform such services for the corporation.

Robillard v. Commissioner

35 T.C. 896 · United States Tax Court · Mar 13, 1961

For these reasons, paragraphs (2) and (3) of section 1303(b) are clearly inapplicable to the facts herein. … The facts in the instant case, in our opinion, clearly show an agreement from October 1,1955, to pay the additional wages to petitioner.

Martin Fireproofing Profit-Sharing Plan & Trust v. Commissioner

92 T.C. 1173 · United States Tax Court · May 31, 1989

That position, however, leads to the clearly erroneous conclusion that the plan must be permanently disqualified. … Sec. 7482(b)(1)(A) establishes venue for appeal in the case of a petitioner other than a corporation.

Atlas Oil & Refining Corp. v. Commissioner

36 T.C. 675 · United States Tax Court · Jul 14, 1961

While the relationship of debt to equity may be important for other purposes, it would be clearly unreasonable to infer a requirement, as respondent in effect does, that debt be reduced in an insolvency reorganization. … This is clearly a substantial percentage. Indeed, the Supreme Court has found that the former owners acquired a substantial interest with only 7%-percent stock interest in the new corporation. Helvering v.

Tigers Eye Trading, LLC v. Comm'r

138 T.C. 67 · United States Tax Court · Feb 13, 2012

The only qualifier that Congress imposed is that the penalty relate to an adjustment to a partnership item. Secs. 6221, 6226(f). … Congress did so because the relevant conduct, i.e., the establishment of the partnership, which includes the recording of partner contributions, the establishment of partner capital accounts, and adjustments to those accounts

Morris Trust v. Commissioner

42 T.C. 779 · United States Tax Court · Jul 24, 1964

The petitioner is a trust established under the will of James N. Williamson, Jr., who died May 17, 1945. … Consequently, the transfer from American to Insurance qualifies as a valid nontaxable reorganization under section 355.

Curt Teich Foundation v. Commissioner

48 T.C. 963 · United States Tax Court · Sep 29, 1967

(2) Did Curt Teich, Sr.’s gift of securities to the Curt Teich Foundation qualify as a deductible charitable contribution on his 1960 gift tax return? … Respondent does not question the fact that the foundation qualified under sec. 501(c) (3) for its taxable years 1952 through 1958.