Saven Corp. v. Commissioner
United States Board of Tax Appeals
1. Petitioner's income tax returns failing to report large sums received as dividends in 1928 and 1929 held on facts shown to have been false and fraudulent with intent to evade tax. 2. Petitioner, a holding company, having failed to overcome statutory presumption, held subject to tax under Revenue Act of 1928, section 104. W. S. Farish & Co.,38 B.T.A. 150; affd. (C.C.A., 5th Cir.), 104 Fed.(2d) 833, distinguished.
1Opinion of the Court
*350OPINION.
Opper :
In general terms the question is petitioner’s liability to surtax under section 104 of the Revenue Act of 1928.1 Respondent charges that petitioner’s returns were fraudulent and unless he is *351sustained in this contention we shall not be required to decide the substantive question, for the deficiencies would be barred by the statute of limitations.
Although the years involved are 1928 and 1929, the case must be considered against a historical background dating from 1923. In that year Edward S. Evans, the sole stockholder of petitioner, brought about the typical series of…
2Cases cited2 opinions
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- Philadelphia, Wilmington, & Baltimore Railroad v. QuigleySupreme Court of the United States · 1859
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- J. J. Dix, Inc. v. CommissionerUnited States Tax Court · 1953
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