Bollella v. Commissioner
United States Tax Court
The petitioners in the conduct of their grocery business did not keep adequate books and records for the taxable years 1956 through 1959, but did keep correct records for the years 1960 and 1961. The respondent reconstructed the petitioners' gross profit from the operation of the business for the years 1956 through 1959 upon the basis of the petitioners' experience during the taxable years 1960 and 1961, determining that gross profit was substantially understated in the…
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The petitioners in the conduct of their grocery business did not keep adequate books and records for the taxable years 1956 through 1959, but did keep correct records for the years 1960 and 1961. The respondent reconstructed the petitioners' gross profit from the operation of the business for the years 1956 through 1959 upon the basis of the petitioners' experience during the taxable years 1960 and 1961, determining that gross profit was substantially understated in the income tax returns for each of the taxable years 1956 through 1959. Held, that the respondent's method of reconstructing the…
1Opinion of the Court
Carmine Bollella and Teresa Bollella v. Commissioner.
Bollella v. Commissioner
Docket No. 2497-63.
United States Tax Court
T.C. Memo 1965-162; 1965 Tax Ct. Memo LEXIS 168; 24 T.C.M. (CCH) 858; T.C.M. (RIA) 65162;
June 18, 1965
The petitioners in the conduct of their grocery business did not keep adequate books and records for the taxable years 1956 through 1959, but did keep correct records for the years 1960 and 1961. The respondent reconstructed the petitioners' gross profit from the operation of the business for the years 1956 through 1959 upon the basis of the petitioners' experience during the…
2Cases cited17 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Holland v. United StatesSupreme Court of the United States · 1955
- United States v. JohnsonSupreme Court of the United States · 1943
- Lewis Thurston Anderson and Clyde Velma Anderson, Lewis Thurston Anderson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Gano v. CommissionerUnited States Board of Tax Appeals · 1930
12 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Bolen Webb and Cornelia Webb v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1968
- Carmine Bollella and Teresa Bollella, on Review v. Commissioner of Internal Revenue, on ReviewCourt of Appeals for the Sixth Circuit · 1967
- Porter v. Comm'rUnited States Tax Court · 2015