Case law

Federal Bulk Carriers, Inc. v. Commissioner

66 T.C. 283 · United States Tax Court · May 18, 1976

None of the several contracts upon which that relationship was bottomed purport to establish a joint venture as such. … The precise objectives which petitioner, Bessemer, and Maple Leaf sought to attain through this maze of agreements are not clearly disclosed in the record.

Vuono-Lione, Inc. v. Commissioner

24 T.C.M. 506 · United States Tax Court · Apr 14, 1965

In 1959, the corporation clearly required working capital in excess of the $623,721 available on December 31, 1958. … The evidence which establishes that the retention of the corporation's earnings was required to provide necessary working *267 capital also establishes that the earnings were necessary to provide for the bona fide expansion

Estate of Davenport v. Comm'r

92 T.C.M. 324 · United States Tax Court · Oct 5, 2006

The record as a whole clearly manifests that decedent held at least some beneficial interest in the annuities. … As pertinent there, the trust would meet the statutory definition of qualifying only if the child were considered to have established or created the trust. Id. at 565-566.

George L. Riggs, Inc. v. Commissioner

64 T.C. 474 · United States Tax Court · Jun 24, 1975

Subsection (b) 3 of section 332 establishes certain requirements which must be satisfied before subsection (a) becomes applicable. … (Riggs-Young) notifying them of the proposed sale of its assets and that the corporation was contemplating an offer to purchase the common shares held by all shareholders other than petitioner if the sale was approved, clearly

Roy H. Park Broadcasting, Inc. v. Commissioner

78 T.C. 1093 · United States Tax Court · Jun 21, 1982

Such certification was clearly intended to allow the taxpayer to choose to reap the section 1071 benefits if he so desired. … A qualified transferee of a television station reasonably can expect to obtain FCC approval.

Petaluma FX Partners, LLC v. Comm'r

131 T.C. 84 · United States Tax Court · Oct 23, 2008

This stipulation is binding on the parties, and we do not find that justice requires the Court to permit petitioner to qualify, change, or contradict it. See Rule 91(e); Stamos v. Commissioner, 87 T.C. at 1454 — 1455. … realized by its partners. c. the purported partners of Petaluma FX Partners, LLC should be treated as not being partners in Petaluma FX Partners, LLC. d. contributions to Petaluma FX Partners, LLC will be adjusted to reflect clearly

Crimi v. Comm'r

105 T.C.M. 1330 · United States Tax Court · Feb 14, 2013

Jones is a qualified appraiser. VII. … (the qualified appraisal regulation).39 Respondent argues the 2000 appraisal was not a qualified 39 Under sec. 1.170A-13(c)(3)(ii), Income Tax Regs., a qualified appraisal must include the following information

Arouca v. Commissioner

65 T.C.M. 2951 · United States Tax Court · Jun 14, 1993

We cannot determine whether these signatures are genuine, but they are clearly by the same hand. … We conclude that petitioner has not carried his burden of proof in establishing *272 that his wife was in Portugal in or after December 1991, and we so hold.

McDonald v. Commissioner

23 T.C. 1091 · United States Tax Court · Mar 31, 1955

This exception appears to have resulted in new uncertainties, and it has been stated that Bureau agents are interpreting this ruling to mean that only animals which have completely outlived their usefulness can qualify for … Unless clearly erroneous, the finding is binding upon us. * * * 1. See James M. McDonald , 17 T. C. 210 ↩ (1951) . 2. 65 Stat. 452 . ↩ 3. S. Rept.

Lee v. Commissioner

51 T.C.M. 1438 · United States Tax Court · Jul 17, 1986

Clearly, the evidence does not establish that petitioner's employment rose to the level of a trade or business. … Clearly, petitioner realized a loss on the sale of the seaplane and the loss *332 is one described in section 165(c)(2) .

Hyde v. Comm'r

101 T.C.M. 1502 · United States Tax Court · May 19, 2011

The definition of gross income broadly includes any instance of undeniable accessions to wealth, clearly realized, and over which the taxpayer has complete dominion and control. Commissioner v. … An IRA is a qualified retirement plan to which section 72(t)(1) applies. See secs. 408(a), 4974(c)(4).

New Capital Fire, Inc.

United States Tax Court · Jun 2, 2021

Conclusion Respondent has established that the requirements for applying equitable estoppel against petitioner are met. … The equities clearly weigh in favor of estopping petitioner from changing its return reporting.

Adam Sowards

United States Tax Court · Aug 3, 2023

Identification requirements.— (1) Qualifying child identification requirement. … This evidence does not establish the traditional elements of estoppel, nor does it establish that respondent or his employees have engaged in affirmative misconduct.

Hayes v. Commissioner

40 T.C.M. 946 · United States Tax Court · Aug 11, 1980

OPINION Petitioner has stipulated that he does not qualify for, and is not seeking, an exemption from self-employment tax under the provisions of section 1402(e) pertaining to ordained ministers. … Petitioner is clearly not an ordained minister. Neither do we understand him to make a serious *287 claim for exemption under section 1402(g) pertaining to members of certain religious faiths.

Oman Constr. Co. v. Commissioner

24 T.C.M. 1799 · United States Tax Court · Dec 29, 1965

However, the rating established may differ. … It was clearly a reasonable need of the petitioner's business to retain the entire earnings for fiscal 1958.

Pockrandt v. Commissioner

21 T.C.M. 1403 · United States Tax Court · Nov 6, 1962

In his petition, the petitioner has alleged that the respondent erred only in his determination that the sale of minerals in question did not qualify for treatment as a long-term gain on the sale of a capital asset. … Respondent urges that the agreement is clearly a lease and that it accurately reflects the intention of the parties and the true substance of the transaction entered into between them.

Kurtin v. Commissioner

62 T.C.M. 1058 · United States Tax Court · Oct 22, 1991

Therefore, a failure to meet any of the requirements will prevent a spouse from qualifying for relief. . *579 The parties have stipulated that petitioner and Mr. … Kurtin filed a joint return for 1981, that such return contained a substantial understatement of tax, and that such understatement of tax due to Electric Auto deductions is attributable to clearly erroneous items.

Adams v. Commissioner

58 T.C. 41 · United States Tax Court · Apr 17, 1972

The case of United National Corporation, supra, relied on by the petitioner is clearly distinguishable from the case at bar. There are numerous issues remaining for decision. … Finally, the value of the outright sale of Skul-Spook to Western must be established.

Dumke v. Commissioner

34 T.C.M. 461 · United States Tax Court · Apr 2, 1975

establish that he provided more for the support of such child during the calendar year than the parent not having custody. … Accordingly, we hold petitioner to have failed to qualify for the dependency deduction under the provisions of section 152(e)(1). Decision will be entered for the respondent. Footnotes 1.

Fahnestock v. Commissioner

4 T.C. 1096 · United States Tax Court · Apr 3, 1945

Decedent during his lifetime transferred property to five irrevocable trusts established for the benefit of his children and their issue. … We think the facts of the instant case are clearly distinguishable from those present in the Fidelity-Philadelphia Trust Co . case. The latter case was a survivorship case.