Cleveland v. Commissioner
United States Board of Tax Appeals
1. The liability notices herein were timely mailed under the provisions of section 275(a) and 311(b) of the Revenue Act of 1928. 2. Where a taxpayer has no assets at the date of the determination of a deficiency, the respondent, under section 311 of the Revenue Act of 1928, may proceed at once to collect the deficiency from stockholders who have acquired the assets of such taxpayer without consideration. 3. Amount of income which taxpayer realized from payments of an award…
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1. The liability notices herein were timely mailed under the provisions of section 275(a) and 311(b) of the Revenue Act of 1928. 2. Where a taxpayer has no assets at the date of the determination of a deficiency, the respondent, under section 311 of the Revenue Act of 1928, may proceed at once to collect the deficiency from stockholders who have acquired the assets of such taxpayer without consideration. 3. Amount of income which taxpayer realized from payments of an award to it by the Mixed Claims Commission, United States and Germany, determined. Marine Transport Co.,28 B.T.A. 566, followed.
1Opinion of the Court
*580OPINION.
Lansdon :
The petitioners’ first contention is that as the respondent mailed no deficiency notices to the taxpayer for the years 1928 and 1929, no tax liability has been determined against the transferor and therefore none can be asserted against the transferees, and that even if the deficiencies in question existed, as a matter of fact and law, the statute of limitations had run as to any assessment against the taxpayer prior to the date at which the deficiency notices were mailed to the petitioners.
In our opinion the first point in petitioners’ contention, as above set out, is…
2Cases cited3 opinions
- Wright v. CommissionerUnited States Board of Tax Appeals · 1933
- Grand Rapids Nat'l Bank v. CommissionerUnited States Board of Tax Appeals · 1929
- Marine Transport Co. v. CommissionerUnited States Board of Tax Appeals · 1933
3Cited by17 opinions
- Maher v. CommissionerUnited States Tax Court · 1970
- Kuckenberg v. CommissionerUnited States Tax Court · 1960
- Estate of Glass v. CommissionerUnited States Tax Court · 1970
- Dillman v. CommissionerUnited States Tax Court · 1975
- Baker v. CommissionerUnited States Board of Tax Appeals · 1934
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