Sam Goldberger, Inc. v. Commissioner
United States Tax Court
1. International, a wholly owned subsidiary of Goldberger, Inc. (parent), elected Domestic International Sales Corporation (DISC) status. During its taxable year ended Oct. 31, 1979, International made advances to parent that were to be used to purchase merchandise to be sold by International.
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1. International, a wholly owned subsidiary of Goldberger, Inc. (parent), elected Domestic International Sales Corporation (DISC) status. During its taxable year ended Oct. 31, 1979, International made advances to parent that were to be used to purchase merchandise to be sold by International. The Commissioner mailed a statutory notice of deficiency to parent in which he made adjustments for disqualification distributions under sec. 995(b)(2), I.R.C. 1954. These adjustments resulted from a prior determination by the Commissioner that International did not qualify as a DISC for its taxable…
1Opinion of the Court
GOFFE, Judge:
The Commissioner determined deficiencies in petitioners’ Federal income taxes and additions to tax under section 6653(a)(1)1 and (2) as follows:
Docket No. Taxable year ended Additions to tax Deficiency Sec. 6653(a)(1) Sec. 6653(a)(2)
3936-84 09/30/77 $4,292.00
09/30/78 11,149.00
09/30/79 46,636.00 $200.00
09/30/82 1,411.00 71.00 (1)
20040-84 12/31/77 62,302.00 3,115.10
12/31/80 27,248.01 1,362.40
12/31/81 810.00 40.50 (2)
These cases were consolidated for trial, briefing, and opinion. After concessions, the issues for decision are: (1) Whether we have jurisdiction to decide if Sam…
2Cases cited29 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Bixby v. CommissionerUnited States Tax Court · 1972
- Bingler v. JohnsonSupreme Court of the United States · 1969
- Thor Power Tool Co. v. CommissionerSupreme Court of the United States · 1979
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