Case law

RLC Indus. Co. v. Commissioner

98 T.C. 457 · United States Tax Court · Apr 22, 1992

Blocks may also be established by geographical or political boundaries or by logical management areas. … If the standards established by these non- accounting rules leave room for a choice between two or more ways of treating particular items, income is clearly reflected by an accounting method under which one of the permissible

Cabirac v. Comm'r

120 T.C. 163 · United States Tax Court · Apr 22, 2003

Sec. 72(t)(l). 7 A qualified retirement plan includes individual retirement accounts. Sec. 4974(c). … The evidence clearly supports imposition of this addition, and petitioner raises no arguments with respect to this issue. We sustain respondent’s determinations on the basis of the record before us. C.

Taisei Fire & Marine Ins. Co. v. Commissioner

104 T.C. 535 · United States Tax Court · May 2, 1995

Trollope. 1 Total. 121,000 The latter four shareholders were Bermuda residents and the shares were held as qualifying director’s shares, and Fortress was the beneficial owner of each share. … Clearly, the mutual fund company would not be considered dependent on its thousands of investors.

Drew v. Commissioner

12 T.C. 5 · United States Tax Court · Jan 10, 1949

It is enough that the wife’s contribution was a material factor in the establishment and operation of the enterprise. Drew’s Manstore was developed from small beginnings. … There is credible testimony that the amounts paid him were less than the compensation currently paid to qualified men rendering like services.

Oberman Mfg. Co. v. Commissioner

47 T.C. 471 · United States Tax Court · Feb 8, 1967

taxpayer in arriving at such deduction, shall not be denied for any taxable year ending before January 1, 1969, solely by reason of the fact that (1) the liability for the vacation pay to a specific person has not been clearly … the qualifying service necessary under a plan or policy (communicated to the employee before the beginning of the vacation year) which provides for vacations with pay to qualified employees.

North American Sequential Sweepstakes v. Commissioner

77 T.C. 1087 · United States Tax Court · Nov 3, 1981

There is nothing in the record which firmly establishes that petitioner had previously intended to provide such support. … Clearly, under these circumstances we cannot find that petitioner has sustained its burden of proof.

Godley v. Commissioner

19 T.C. 1082 · United States Tax Court · Mar 19, 1953

The securities clearly did not represent capital, nor did their distribution deplete capital. … Under his theory section 115 (j) becomes all important and assumes to establish an independent standard of taxability in so far as the stockholder-distributee is concerned.

Ewart v. Commissioner

85 T.C. 544 · United States Tax Court · Oct 8, 1985

Here, the petition does not clearly articulate what errors petitioner alleges were committed by respondent. … We recognize that the result we reach here may appear harsh as to petitioner, although clearly mandated by statute.

Anderson v. Commissioner

83 T.C. 898 · United States Tax Court · Dec 5, 1984

These factors clearly warrant a decision that no partnership or joint venture relationship exists between the various parties. … In order for expenditures to qualify as mining development expenses, the mine must have reached the development stage, and the expenditures must be for the development of the mine. Estate of DeBie v.

Tucker v. Commissioner

23 T.C. 115 · United States Tax Court · Oct 27, 1954

There is nothing to indicate that he had any experience which would qualify him to manage the company. Likewise, there is nothing to indicate that Blanche E. Fleck had such experience or qualifications. … The law is well established that the disbursement of corporate earnings serving the ends of a stockholder may constitute a dividend to such stockholder notwithstanding that the formalities of a dividend declaration are not

Estate of Lippitz v. Comm'r

94 T.C.M. 330 · United States Tax Court · Sep 25, 2007

Whether the Offer Clearly States the Amount Offered Respondent next argues that petitioner’s alleged qualified offer fails because petitioner did not clearly specify the amount being offered.9 Section 301.7430-7 … - 15 - Regs., provides that a qualified offer “specifies the offered amount if it clearly specifies the amount for the liability of the taxpayer * * *.

Van Products, Inc. v. Commissioner

40 T.C. 1018 · United States Tax Court · Sep 24, 1963

There is no doubt whatever that petitioner’s notes could not qualify under these provisions. … character, accounts receivable, or fixed assets, particularly, as to the latter, book value may be one thing, but common experience all too clearly shows how often It may be difficult to realize more than a fraction of the

Jordan v. Commissioner

60 T.C. 770 · United States Tax Court · Aug 27, 1973

Such activities are clearly within the realm of petitioner’s trade or business, and the expenses attendant thereto are thus incurred in his trade or business. Cf. David J. Primuth,, supra; Guy R. … Finally, the record established beyond any doubt that petitioner and GHEA had a direct interest in the enactment of the desired legislation.

Estate of Sally J. Anenberg, Donor, Steven B. Anenberg, and Special Administrator, Petitioner(s)

United States Tax Court · May 20, 2024

. ————— S and her husband, D, established a family trust. … That transfer clearly represented a gift.

Estate of Lumpkin v. Commissioner

56 T.C. 815 · United States Tax Court · Jul 19, 1971

Parents who qualify To qualify, these relatives must have been either (1) living with the employee at the time of his death or (2) dependent * upon him. … Qualifying spouse. 2. Qualifying children who are under 21 year? of age or permanently incapable of self-support. 8. Qualifying parents.

Maddrix v. Commissioner

83 T.C. 613 · United States Tax Court · Oct 22, 1984

The note signed by petitioner clearly specified that it was secured solely by petitioner’s fractional undivided interest in the sublease, that petitioner would not be personally liable for any amounts payable under the note … To qualify for the deduction, the petitioner must meet the terms of the regulation, which sets out that a minimum royalty provision must require payment at least annually.

Elson v. Commissioner

28 T.C. 442 · United States Tax Court · May 24, 1957

Euthermore, it is the established rule in this state that the will (or wills) itself may be sufficient to establish the prior agreement to dispose of the property according to the terms of such agreement. Campbell v. … If to that end they execute a joint instrument, clearly expressing their purpose, then, whether it be called a contract, compact, will, or conveyance, we think it should be treated as a relinquishment of dower right, or,

Williams v. Commissioner

94 T.C. 464 · United States Tax Court · Mar 21, 1990

First, the quoted language of the regulation is qualified by the word “generally,” which suggests the regulation does not apply to all situations. … It is well established that a specific statutory provision will override a general provision. Bulova Watch Co. v. United States, 365 U.S. 753 (1961).

Steinway & Sons v. Commissioner

46 T.C. 375 · United States Tax Court · Jun 20, 1966

Clearly, such leasehold amortization is deductible under section 162, even though there are no periodic payments designated as rent. … To the extent that this contention would lead to a conclusion (not clearly expressed by respondent) that the leasehold had no amortizable cost basis, we reject it.

Aboussie v. Commissioner

60 T.C. 549 · United States Tax Court · Jul 10, 1973

In reversing the District Court decision, the Fifth Circuit stated that “It now has been established that in connection with the Buyers’ purchase of the Seller’s stock there was a tripartite agreement, consisting of the formal … First, as to petitioner’s contention that the agreements were between the corporation and himself, the written agreement dated October 13, 1966 (and quoted above), clearly shows otherwise.