Botwinik Bros. of Mass., Inc. v. Commissioner
United States Tax Court
1. V.G., a minority stockholder in T corp., in charge of its books and records, misappropriated funds from T and falsely recorded such misappropriations in T's books and records as corporate expenses over a period of about 10 years. T's income tax returns were prepared from the books and records and reflected deductions for corporate expenses which V.G. had falsely recorded.
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1. V.G., a minority stockholder in T corp., in charge of its books and records, misappropriated funds from T and falsely recorded such misappropriations in T's books and records as corporate expenses over a period of about 10 years. T's income tax returns were prepared from the books and records and reflected deductions for corporate expenses which V.G. had falsely recorded. The majority stockholders and other officers were unaware of these misappropriations, and fired V.G. upon discovery. Held, in the circumstances of this case, T's returns for 1946-1954 were not false or fraudulent with…
1Opinion of the Court
Botwinik Brothers of Mass., Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Botwinik Bros. of Mass., Inc. v. Commissioner
Docket No. 93775
United States Tax Court
39 T.C. 988; 1963 U.S. Tax Ct. LEXIS 174;
March 22, 1963, Filed
Decision will be entered under Rule 50.
1. V.G., a minority stockholder in T corp., in charge of its books and records, misappropriated funds from T and falsely recorded such misappropriations in T's books and records as corporate expenses over a period of about 10 years. T's income tax returns were prepared from the books and records and reflected deductions…
2Cases cited14 opinions
- Kann v. Commissioner of Internal Revenue. Kann's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1954
- L. Schepp Co. v. CommissionerUnited States Board of Tax Appeals · 1932
- Federbush v. CommissionerUnited States Tax Court · 1960
- Auerbach Shoe Co. v. CommissionerUnited States Tax Court · 1953
- United Mercantile Agencies, Inc. v. CommissionerUnited States Tax Court · 1955
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