Case law

Soares v. Commissioner

50 T.C. 909 · United States Tax Court · Sep 19, 1968

This is clearly not the intention of this regulation. … The same argument was presented in American Properties, Inc., 28 T.C. 1100 , affirmed per curiam 262 F. 2d 150 (C.A. 9, 1958), wherein we stated the following at pages 1116, 1117: It is well established that the duty of filing

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

Engineered Timber Sales, Inc. v. Commissioner

74 T.C. 808 · United States Tax Court · Jul 22, 1980

Pugh that ETS probably could establish a profit-sharing plan qualified under the Internal Revenue Code, Mr. Hurst suggested that Mr. and Mrs. … Respondent takes the position that petitioner did not establish such a plan in 1974 but merely formed the intent in that year to establish such a plan at a later date.

Peterson v. Commissioner

45 T.C. 497 · United States Tax Court · Feb 28, 1966

Peterson is qualified as either a fiduciary or personal representative to bring or to authorize the bringing of a suit on behalf of the Estate of Charles A. … Davison, supra, is clearly distinguishable. There the surviving wife never subsequently qualified as administra-trix of her husband’s estate.

BBS Associates, Inc. v. Commissioner

74 T.C. 1118 · United States Tax Court · Aug 26, 1980

joint and survivor annuity except to the extent that the participant elects another form of benefit payment, the trust established under the plan will fail to qualify under section 401(a). … Thus, the legislative history behind section 401(a)(ll) does not clearly establish that Congress intended a qualified joint and survivor annuity to be the normal form of distribution under a plan which offers an annuity.

Estate of Nicholson v. Commissioner

94 T.C. 666 · United States Tax Court · Apr 30, 1990

The trust instrument reveals clearly the decedent’s intention that his children, as trustees, were to determine, and provide, the amounts Mrs. Nicholson required to maintain her “usual and customary” standard of living. … That failure, however, does not establish his intention that there would be no excess income.

Estate of McWhorter v. Commissioner

69 T.C. 650 · United States Tax Court · Feb 2, 1978

Nevertheless, the court concluded that the facts established a debtor-creditor relationship created in 1926. … Taxpayers argued that subsequent distributions were merely payments on previously established obligations.

Baicker v. Commissioner

93 T.C. 316 · United States Tax Court · Sep 6, 1989

Our attempt to reduce petitioners’ analysis to a clearly understandable legal issue has been frustrating. … It is not affirmative authority to open the floodgates wide to any carryover that is not clearly based upon some provision of law.

Riverfront Groves, Inc. v. Commissioner

60 T.C. 435 · United States Tax Court · Jun 18, 1973

In the case at bar there are undeniable accessions to wealth, clearly realized, which petitioner benefits from and which it has consented to return as income. … established that income may be- constructively received even though its actual receipt is waived by the taxpayer.

Estate of Siegel v. Commissioner

67 T.C. 662 · United States Tax Court · Jan 12, 1977

will, evidences a lack of mutual assent to the precise terms of the alleged contract. (2) Paragraph Fifth of David’s will, paragraph Fourth of Mildred’s will, and the simultaneous death provisions of the respective wills clearly … We believe petitioner’s first argument is clearly without merit. The word "understood,” when employed in a written contract, has the same force as the word "agreed.” Black’s Law Dictionary (4th ed. 1968 rev.).

National Presto Indus. v. Commissioner

104 T.C. 559 · United States Tax Court · May 3, 1995

An addition to a qualified asset account may be included in the fund’s qualified cost, however, only to the extent such addition does not cause the amount in the qualified asset account to exceed the “account limit”. … Furthermore, neither the Internal Revenue Code nor the regulations provided a definition that clearly distinguished welfare benefits from deferred compensation.

Dresser Industries, Inc. v. Commissioner

92 T.C. 1276 · United States Tax Court · Jun 19, 1989

If a regulation does not clearly contradict or limit the language of the statute it purports to interpret, it is nevertheless invalid if it is inconsistent with the statute’s origin and purpose. CWT Farms, Inc. v. … It is well established that the subsequent history of an account receivable arising on a sale does not affect the amount of gross income originally realized on such sale. See Spring City Foundry Co. v.

Golden Nugget, Inc. v. Commissioner

83 T.C. 28 · United States Tax Court · Jul 18, 1984

Such a reorganization clearly does not involve a sale or other similar transfer of capital assets. … Rul. 77-415, respondent’s established position was that debt-for-equity exchanges such as the 1974 exchange failed to qualify as statutory reorganizations because continuity of interest was lacking.

Fry v. Commissioner

5 T.C. 1058 · United States Tax Court · Nov 14, 1945

Bank of Commerce & Trust Company as characterized in the very resolution which provided for the distribution, and (2) that the reduction in par value of the capital stock of the Bank of Commerce & Trust Company was, as clearly … Taking these established facts together with the further established fact that “immediately after the transfer” of such assets, the old bank, through its ownership of all the stock of the new bank, except directors’ qualifying

Fife v. Commissioner

82 T.C. 1 · United States Tax Court · Jan 4, 1984

Accordingly, in enacting section 48(k)(l)(A)(i) it was clearly Congress’s intention that, with respect to motion picture property placed in service prior to 1975, only new property should qualify for the investment tax credit … The regulations promulgated under section 48(k) are particularly helpful in establishing what constitutes new property for purposes of that section.

Johnson v. Commissioner

74 T.C. 1057 · United States Tax Court · Aug 12, 1980

On December 22, 1975, Johnson established the IRA and made a $1,500 contribution to it that remained therein until 1977. … During the first 2y2 months of 1975 and the last 9 months of 1976, Johnson was an active participant in a qualified retirement plan.

Texaco Inc. v. Commissioner

101 T.C. 571 · United States Tax Court · Dec 15, 1993

Where the statute is ambiguous, it is well established that we may look to its legislative history and to the reason for its enactment. United States v. … A “barrel-of-oil equivalent” of qualified fuel generally meant the amount of qualified fuel having a Btu content of 5.8 million.

Callander v. Commissioner

75 T.C. 334 · United States Tax Court · Dec 4, 1980

Petitioner admitted at trial that the checking account was not specifically established for the purpose of maintaining tax records. … Clearly, petitioner is not entitled to deduct the entire cost of maintaining her checking account.

Evans v. Commissioner

48 T.C. 704 · United States Tax Court · Aug 17, 1967

Each mobile home owner was charged $2 per month for water by the petitioners as part of the monthly rental for space in accordance with the schedule of rates established by the California Public Utilities Commission. … South Texas Lumber Co., 333 U.S. 496 ); * * * Clearly the regulations are not “unreasonable and plainly inconsistent” with the intent of the statute. It is apparent when the technical explanations (H. Kept.

Voigt v. Commissioner

74 T.C. 82 · United States Tax Court · Apr 21, 1980

Lichtenberg, however, did not testify at the trial, and from the evidence presented, we find that the severity of her symptoms at the start of her treatment was not clearly shown. … Beginning in 1976, primarily because of the NASW’s interest in making its social workers eligible for insurance reimbursements, the NASW established a registry.