Case law

McKenna v. Commissioner

75 T.C.M. 1702 · United States Tax Court · Feb 5, 1998

The facts clearly show that petitioner concealed substantial amounts of income by his actions. During the civil examination by Ms. … Petitioners' understatements do not qualify for any reductions under this definition. Accordingly, respondent's determination on this issue is sustained.

Champions Retreat Golf Founders, LLC., Riverwood Land, LLC., Tax Matters Partner

United States Tax Court · Oct 17, 2022

A taxpayer may deduct the value of a contribution of a partial interest in property, however, if the contribution constitutes a “qualified conservation contribution.” § 170(f)(3)(B)(iii). … Vickery, 156 S.E.2d 459, 462 (Ga. 1967) (holding that use restrictions on private property are not favored and any claim of use restrictions must be clearly established).

Lemons v. Commissioner

74 T.C.M. 522 · United States Tax Court · Sep 11, 1997

According to the loan closing statement, a reserve was established from the loan proceeds for construction costs in the amount of $2,879,500. … Petitioners survey the factors used by courts to distinguish between dealers and investors in real estate and conclude that "clearly, Lemons' activities do rise to the level of a trade or business."

Rhone Poulenc Surfactants and Specialties, L.P. v. Commissioner

114 T.C. No. 34 · United States Tax Court · Jun 29, 2000

But this is clearly not what Congress intended by section 6229(b). … I would interpret section 6229(d) consistently with the entity theory of partnership reflected in Congress’ establishment of the 3-year minimum period.

Raghunathan Sarma & Gaile Sarma v. Commissioner

2018 T.C. Memo. 201 · United States Tax Court · Dec 12, 2018

The record does not establish whether the contribution occurred before or after Lincoln sold its interest in Kearney Partners. However, Mr. Sarma’s outside basis in Lincoln is not at issue here. Mr. … A partnership cannot qualify as a small partnership if any partner is a passthrough partner. Id. subpara. (2).

Harbour Properties, Inc. v. Commissioner

32 T.C.M. 580 · United States Tax Court · Jun 25, 1973

Such amount clearly is fixed, limited, and constitutes a superior right to the corporate earnings. … It would clearly be difficult for the $697, 116 from the sale of the remaining 38 lots.

Thomas v. Commissioner

42 T.C.M. 496 · United States Tax Court · Jul 28, 1981

Metro was clearly formed or availed of to purchase the Alpharetta property. After Calvin signed the purchase contract, petitioners consulted McClelland for advice. … The project was clearly an isolated, non-recurring venture.

Jaffe v. Commissioner

26 T.C.M. 1110 · United States Tax Court · Nov 8, 1967

Richard Slott, who is not related to the Jaffe family, nominally held 100 shares of stock of Guarantee in order to qualify as a director. … In the view of one qualified expert, 1957 was a very bad time to underwrite this stock.

Russell Shappy, Jr. & Linda B. Shappy

United States Tax Court · Jan 3, 2024

a causal connection between predicate acts with injury, establish sufficient continuity to constitute a pattern, and establish reliance. … That motion would qualify as a “litigation action.” And though the defendants’ Fed. R. Civ.

Soter v. Commissioner

27 T.C.M. 194 · United States Tax Court · Mar 14, 1968

The 1960 agreement meant, in paragraph 1, that Soter reacquired one-fifth of the 25 percent interest sold to Vopat under the 1958 contract, but it was not specifically and clearly stated in the 1960 agreement that Soter would … liabilities of the second partnership were transferred on June 1, 1960, to the succeeding corporation, 80,000 shares of capital stock were "issued" to the two partners, 60 percent to Soter, and 40 per cent to Vopat, and one qualifying

James M. Robinette v. Commissioner

123 T.C. No. 5 · United States Tax Court · Jul 20, 2004

Under an abuse of discretion standard, “we do not interfere unless the Commissioner’s determination is arbitrary, capricious, clearly unlawful, or without sound basis in fact or law.” … That hardly qualifies as a “foot fault”. C.

Stone v. Commissioner

52 T.C.M. 264 · United States Tax Court · Aug 25, 1986

Their records and books of account clearly were inadequate. By 1972, respondent had begun to examine their tax returns, records, and books in connection with possible criminal prosecution. … Since Selbia had almost always been self-employed, he intended to qualify for social security benefits some day because of the F.I.C.A. taxes withheld from his wages by S.E.A. Corporation. In 1969, S.E.A.

Carpenter Family Investments, LLC, Carpenter Capital Management, LLC, Tax Matters Partner v. Commissioner

136 T.C. 373 · United States Tax Court · Apr 25, 2011

Council, 467 U.S. 837 (1984) (establishing a two-step framework for testing the validity of an agency’s interpretation of ambiguous statutes). … Commissioner, 633 F.3d 616, 620 (7th Cir. 2011) (concluding that “Colony’s holding is inherently qualified by the facts of the case * * *, where the * * * omission was * * * in the course of trade or business.”), revg.

Byrne v. Commissioner

44 T.C.M. 338 · United States Tax Court · Jun 30, 1982

Craig were granted immunity from criminal prosecution in connection with their testimony before *433 the Grand Jury that indicted Mr. … Clearly, neither party treated the March 14, 1972, agreement as a joint venture agreement. The record shows that Mr.

Hefti v. Commissioner

65 T.C.M. 2241 · United States Tax Court · Mar 31, 1993

The photographic evidence fails to establish that petitioners have met the exclusive use requirement of section 280A . … "Ordinary and necessary" implies that the expense must bear a reasonable and proximate relation to the business or other qualifying activity. Trust of Bingham v. Commissioner , 325 U.S. 365 (1945) .

Kenna Trading, LLC, Jetstream Business Limited, Tax Matters Partner v. Commissioner

143 T.C. 322 · United States Tax Court · Oct 16, 2014

Globex clearly received money from both Mr. Hartigan, via Multicred, in 2004 and again from Mr. … Rogers also hoped that the main and subtrusts would qualify as trusts under the check-the-box regulations. See sec. 301.7701–4, Proced. & Admin. Regs.

Goodman v. Commissioner

5 T.C.M. 1126 · United States Tax Court · Dec 18, 1946

Thus, he was not available to perform *77 the customary duties of a corporate officer or to devote "necessary" time to the affairs of the business, assuming that he was qualified to serve in the capacity of an officer of … Clearly such amount is taxable to him.

Estate of Hawthorne v. Commissioner

19 T.C.M. 770 · United States Tax Court · Jun 30, 1960

The minutes apparently did not clearly state the intention of the directors. … Hickok, 32 T.C. 80 ↩ , which it clearly was not.

Kraft Foods Co. v. Commissioner

21 T.C. 513 · United States Tax Court · Jan 25, 1954

Generally, the term "cheese" when used in the United States without descriptive or qualifying words means cheddar cheese. It is quite commonly referred to as American cheese. … A lawsuit was begun in 1931 to establish petitioner's title to the patent and to require transfer thereof by Simmons.

Lewis v. Commissioner

27 T.C.M. 292 · United States Tax Court · Apr 4, 1968

Rates for hauling freight originating on Railroad's line were established and supervised by the Interstate Commerce Commission. … In any event the terms of the document itself clearly made the transfer subject to the assignment of the stock as collateral security for Ralph's obligation on the note.