Case law

G.D. Searle & Co. v. Commissioner

88 T.C. 252 · United States Tax Court · Feb 4, 1987

Qualifying returned SCO goods were sent by wholesalers to petitioner and generally were forwarded by petitioner to SCO. … Was Petitioner’s Income Clearly Reflected During 1974 and 1975.

Jobusch v. Commissioner

68 T.C. 929 · United States Tax Court · Sep 19, 1977

Their motivation for establishing a plan of deferred compensation was to provide additional employee benefits that would induce young employees to stay with the firm rather than establish competing firms after a few years … Petitioners have clearly shown that Jack Sarver, the promoter behind Howard and Hotels, erroneously issued the partnership interests to Friedman and Jobusch in their personal capacities despite their initial subscription

Old Homestead Bread Co. v. Commissioner

28 T.C. 306 · United States Tax Court · Apr 30, 1957

The benefits of section 722 are available to the petitioner only if it establishes that the excess profits tax complained of is “excessive and discriminatory,” as those terms are defined in the statute, and further establishes … The three oases cited by the petitioner above are clearly distinguishable.

State Farm Road Corp. v. Commissioner

65 T.C. 217 · United States Tax Court · Nov 3, 1975

We also think it significant that the fruition of the plans of the shareholders of petitioner to develop the Heritage Village Apartments Complex depended upon having the sewer system established. 13 In this context, it can … Thus, at least with respect to the depreciation deduction issue, public utility status may be a factor against customer payments qualifying as contributions to capital.

Estate of Speer v. Commissioner

57 T.C. 804 · United States Tax Court · Mar 15, 1972

The sole issue for our determination is whether the remainder interest in a trust established by the decedent fails to qualify for a charitable deduction pursuant to section 2055 1 because of the management discretion vested … In each of the previously cited cases in which the Government prevailed, a far broader category of benefit to the income beneficiary was established.

Safety Tube Corp. v. Commissioner

8 T.C. 757 · United States Tax Court · Apr 2, 1947

For petitioner to succeed in its contention, it must establish that the royalties fall within one of the specified deductions. … The facts which have been stipulated seem to show clearly that petitioner in good faith believed that it was not liable for any personal holding company surtax and that its counsel, Garnett S.

Riddlesbarger v. Commissioner

16 T.C. 820 · United States Tax Court · Apr 19, 1951

The record clearly shows that the plan of “reorganization” could not and did not have the effects other than tax avoidance which the petitioner attempts to attribute to it. … We have also been accorded the benefit of the reports and opinions of six qualified witnesses each of whom independently inspected and appraised the properties in question.

Wyler v. Commissioner

14 T.C. 1251 · United States Tax Court · Jun 23, 1950

There is no apparent dispute between the parties as to the meaning of the term “good will.” ' In any event, the courts include as a leading element of good will the probability that the customers of the old establishment … That case, therefore, is not controlling, for the terms of the contract involved and the circumstances surrounding its execution clearly indicate that there was a sale of good will by petitioner to Peat.

Ross v. Commissioner

71 T.C. 897 · United States Tax Court · Feb 21, 1979

On their Federal quarterly gift tax returns for the calendar quarter ended December 31, 1972, petitioners each claimed 10 annual $3,000 exclusions for gifts made to the three trusts established for their 10 grandchildren. … OPINION The issue before the Court can be simply stated, did the transfers made by petitioners in 1972 into the trusts constitute gifts of present interests under section 2503(c) so that the amounts transferred qualify for

Johnson v. Commissioner

37 T.C.M. 1763 · United States Tax Court · Oct 26, 1978

However, FMC did have a qualified pension plan within the meaning of section 401 of the Code. … , or stock bonus plan of an employer * * * Petitioner reads this as saying that if for any portion of the year one was not an active participant in a qualified plan, one may establish an IRA.

Newton Insert Co. v. Commissioner

61 T.C. 570 · United States Tax Court · Jan 30, 1974

The provisions of the 1961 license agreement clearly did not reserve any such right to City of Hope. … Schaffner, 312 U.S. 519 (1941), relied on by petitioner, which deals with the right of a life beneficiary of a testamentary trust to assign income, is clearly distinguishable. Oak Manufacturing Co. v.

Southern v. Commissioner

87 T.C. 49 · United States Tax Court · Jul 3, 1986

Respondent maintains that the language of the consent clearly and unambiguously encompasses an increase in tax pursuant to section 47. … A “recapture” recomputation of the investment credit pursuant to section 47 is clearly a decrease in or adjustment to the credit.

Best Universal Lock Co. v. Commissioner

45 T.C. 1 · United States Tax Court · Oct 7, 1965

We believe the record clearly establishes that all of the experiments in question were connected with a continuing trade or business long conducted by Best Lock Corp. … Petitioner has not only failed to establish the amounts spent on these trips but has also failed to establish by competent evidence that whatever trips were taken served any legitimate business purpose of his, as opposed

Ford v. Commissioner

56 T.C. 1300 · United States Tax Court · Sep 15, 1971

Had he seriously intended to qualify as a regular teacher it seems that he could have become qualified as such prior to 1967. It would appear that he was primarily interested and involved in obtaining a Ph. … I can conceive of situations where study abroad would clearly satisfy the "ordinary" requirement of section 162(a) .

Estate of Gilchrist v. Commissioner

69 T.C. 5 · United States Tax Court · Oct 11, 1977

Layland Myatt and Elizabeth Fewell Dearborn were named independent coexecutor and coexecutrix, respectively, in decedent’s will, and they duly qualified as such in Cause No. … The dispositive clause clearly leaves to her discretion the kind and extent of the use which she required or desired.

Electric & Neon, Inc. v. Commissioner

56 T.C. 1324 · United States Tax Court · Sep 21, 1971

There may be several questions as to whether E & N qualifies for the various requested adjustments, but to the extent that it does qualify,, they should be allowed in the Eule 50 computation. Issue 2. … In fact, the excuse would certainly seem to establish willful neglect on the part of Mrs. Jimenez.

Estate of Shelfer v. Commissioner

103 T.C. 10 · United States Tax Court · Jul 19, 1994

Secretary of the Treasury, 475 U.S. 851, 860 (1986)), the legislative history of the two statutory provisions establishes that the intent of QTIP differs from that of section 2056(b)(5). … If the statute were unambiguous, the Court and the Commissioner would be required to give effect to clearly expressed Congressional intent, and any final regulation that was inconsistent with that intent would be invalid.

Butka v. Commissioner

91 T.C. 110 · United States Tax Court · Jul 26, 1988

We must keep clearly in mind that section 911(d)(6) is concerned with the denial of double tax benefits. … This has been well established for many years. In Pollack v.

Professional Ins. Agents v. Commissioner

78 T.C. 246 · United States Tax Court · Feb 17, 1982

We think this requirement is clearly satisfied in the present case. To begin with, we note that petitioner’s promotional activities were highly profitable and generated revenues far in excess of the related expenses. … We have no quarrel with petitioner’s assertion that participating members were benefited by the group insurance programs, for the evidence clearly shows that to be the case.

Estate of Shea v. Commissioner

57 T.C. 15 · United States Tax Court · Oct 5, 1971

Stevenson are petitioners who qualified as the executors of the Estate of Helen V. Stevenson on August 30, 1961. At the time the petition herein was filed, Thomas J. … Charters similar to the Metropolitan charter are and were, during the taxable year in issue, traded on organized and established markets, such as the Baltic Exchange in London and the Maritime Exchange in Hew York.