Case law

Colony Farms Cooperative Dairy, Inc. v. Commissioner

17 T.C. 688 · United States Tax Court · Oct 15, 1951

Leech, Judge: By reason of the large amount of business done by petitioner, a cooperative, for its nonmembers, it is not entitled to and does not claim tax immunity. … The determinative fact in establishing this petitioner’s right to the exclusion is whether, at the time of its receipt of these earnings, it was under a legal obligation to pay them over to its members as patronage dividends

Superior Coach of Florida, Inc. v. Commissioner

80 T.C. 895 · United States Tax Court · May 16, 1983

method as, in the opinion of the Secretary, does clearly reflect income” (emphasis added). … It is well established that sections 446(b) and 471 vest the Commissioner with broad authority in matters of inventory accounting and give him wide latitude to recompute income so as to clearly reflect income.

Howard v. Commissioner

24 T.C. 792 · United States Tax Court · Jul 29, 1955

The transaction in question would clearly qualify as a nontaxable exchange (to the extent of the exchange of stock for stock) on the latter theory, but would obviously not so qualify under the former. … We think, however, that the authorities have clearly established the applicable rule of law to be that the consideration for whatever stock is acquired by the transferee corporation in a transaction such as that before us

Kimmelman v. Commissioner

72 T.C. 294 · United States Tax Court · May 9, 1979

had wished to make capital expenditures deductible, it would have done so clearly. … To establish the fair market value of the vines, both parties presented the testimony of expert witnesses. The Commissioner’s expert is a highly qualified real estate appraiser.

Jonson v. Comm'r

118 T.C. 106 · United States Tax Court · Feb 8, 2002

Clearly, then, she had reason to know of the items giving rise to the deficiencies. … Of course, under the rule established in Golsen v.

Xilinx Inc. v. Comm'r

125 T.C. 37 · United States Tax Court · Aug 30, 2005

B. 1990 Employee Qualified Stock Purchase Plan The Xilinx Inc. 1990-Employee Qualified Stock Purchase Plan (espp) allowed full-time employees to purchase petitioner’s stock at a discount. … The arm’s-length standard is employed to ensure that related party transactions clearly reflect the income of each party and to prevent tax evasion. B.

First Libertarian Church v. Commissioner

74 T.C. 396 · United States Tax Court · May 27, 1980

for religious purposes, and because the church did not establish that its purposes and activities were those of a church. … Clearly, the regulations and cases contemplate that a single activity may be carried on for more than one purpose.

The Howard Hughes Company, LLC f.k.a. The Howard Hughes Corporation, and Subsidiaries v. Commissioner

142 T.C. No. 20 · United States Tax Court · Jun 2, 2014

Petitioners have not established that at the time of each sale qualifying dwelling units would ever be built on the sold land. … Consequently,  - 54 - petitioners have failed to establish that such construction costs are incurred with respect to qualifying dwelling units.

Konner v. Commissioner

35 T.C. 727 · United States Tax Court · Feb 6, 1961

By agreement dated March 5,1955, petitioner Joan Konner’s father, Martin Weiner, established two separate trusts, naming his wife, Til-lie Weiner, as sole trustee. … We think the trust agreements clearly indicate that it would, and we hold that under the provisions of section 2503(c) the gifts qualify for treatment as gifts of present interests for the purposes of section 2503 (b).

Danco Co. v. Commissioner

14 T.C. 276 · United States Tax Court · Feb 28, 1950

As we have previously pointed out, the mere existence of the qualifying features of section 722 (c) does not establish a taxpayer’s right to relief. … average base period net income in addition to showing the existence of the qualifying factors listed in subsections (1), (2), and (3) of section 722 (c).

Mahoney Motor Co. v. Commissioner

15 T.C. 118 · United States Tax Court · Aug 11, 1950

It attacked the validity of Regulations 112, section 35.719-1, requiring that to qualify as borrowed invested capital under section 719 an indebtedness must be incurred for business reasons, and also argued in the alternative … This Court found these facts clearly distinguishable from the facts in the Hart-Bartlett case and concluded that the borrowings in question were for business reasons and that the amounts borrowed were includible in the taxpayer

Reisinger v. Commissioner

71 T.C. 568 · United States Tax Court · Jan 16, 1979

If so, the expense is clearly nondeductible. Sec. 1.162-5(b)(3), Income Tax Regs. … A and B(l) and B(3) of this regulation. (2) The application shall be accompanied by supporting documents, such as transcripts of grades, diplomas, certificates, or degrees, as the Board may require. (3) The Board shall establish

Federal Land Bank Asso. v. Commissioner

74 T.C. 1106 · United States Tax Court · Aug 26, 1980

AIRCO designed the prototype as part of the American Industries Retirement System (hereinafter AIRS) which was established by a declaration of trust on May 11, 1964, for use by employers in establishing employee benefit plans … Moreover, petitioners’ Form 4573 clearly requests the determination for the plan year beginning September 1, 1973, and ending August 31, 1974.

Black Gold Energy Corp. v. Commissioner

99 T.C. 482 · United States Tax Court · Oct 15, 1992

Until a payment is made, and the guarantor is discharged of his liability, the debt in question is, under the rationale of Putnam, and assuming a solvent guarantor, immune from worthlessness. … Therefore, we assume that the debt qualifies as a business bad debt and the only issue before the Court is the appropriate timing of the bad debt loss deduction under sec. 166(a).

Sims v. Commissioner

72 T.C. 996 · United States Tax Court · Aug 29, 1979

The employer also established a pension plan with a package of benefits. … Escofil involved the Federal Social Security tax, which clearly is a tax and not an employment condition imposed by an employer upon its own employees.

Sim-Air, USA, Ltd. v. Commissioner

98 T.C. 187 · United States Tax Court · Feb 24, 1992

They are clearly distinguishable. … export receipt or a qualified export asset.

Shelby U.S. Distributors, Inc. v. Commissioner

71 T.C. 874 · United States Tax Court · Feb 20, 1979

The trust was established in 1959 to serve under an employees profit-sharing plan established for the employees of a business then known as Shelby Supply Co. … Moreover, the facts of such cases are clearly distinguishable from those of the case now before us, and such cases do not justify revoking the trust’s exemption in this case.

Green v. Commissioner

82 T.C. 843 · United States Tax Court · May 30, 1984

The Internal Revenue Service then qualified the position it took in Rev. … "A state or municipality itself, however, would not qualify as an organization described in section 501(c)(3) since its purposes are clearly not exclusively those described in section 501(c)(3) of the Code.

Boser v. Commissioner

77 T.C. 1124 · United States Tax Court · Nov 18, 1981

The regulations now in effect do not require the taxpayer to establish his primary purpose in undertaking the education. See Carroll v. … Boser’s flying was reasonable, but such assumption is clearly not warranted. Had Mr.

Liberty Machine Works, Inc. v. Commissioner

62 T.C. 621 · United States Tax Court · Aug 19, 1974

The primary purpose in establishing the profit-sharing plan was to retain Kramer in petitioner’s employ. … The contributions clearly discriminated in favor of the prohibited group and thus disqualified the combined plan under section 401(a) (4).