Davis v. Commissioner
United States Tax Court
1. Petitioner carried on farming, livestock, and packing activities through the medium of four proprietorships in Mexico, Texas, Florida, and the Bahamas.
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1. Petitioner carried on farming, livestock, and packing activities through the medium of four proprietorships in Mexico, Texas, Florida, and the Bahamas. Held, two of the principal proprietorships constituted several and separate businesses and their losses cannot be aggregated in determining losses disallowable under section 130, I. R. C. 1939. 2. In 1949 petitioner and respondent agreed on deficiencies for the years 1944 and 1945 and signed Form 870-TS (Modified). In 1950, after the statute of limitations on assessment of deficiencies for 1944 and 1945 had run, petitioner filed refund…
1DissentPieRCe, J.
I respectfully dissent from holdings of the majority as to the taxable years 1944' and 1945, which holdings are to the effect:(1) That, upon the appeal of the petitioner from a notice that his 1944 and 1945 taxes were to be adjusted under section 130, this Court acquired jurisdiction to entirely redetermine the tax liabilities for said years, and to find that there are overpayments of tax — notwithstanding that the tax liabilities for said years had been “previously determined” by compromise; that adjustments under section 130 are authorized to be made only with respect to particular loss…
2Cases cited11 opinions
- Botany Worsted Mills v. United StatesSupreme Court of the United States · 1929
- Fairmont Aluminum Company v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1955
- Wehrman v. ConklinSupreme Court of the United States · 1894
- Fairmont Aluminum Co. v. CommissionerUnited States Tax Court · 1954
- Guggenheim v. United StatesUnited States Court of Claims · 1948
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