Southern v. Commissioner
United States Tax Court
Ps seek summary judgment and R seeks partial summary judgment. The issue for determination is whether the language of a waiver of the statute of limitations encompasses an increase in the tax under sec. 47, I.R.C. 1954. Ps waived the statutory period of limitation for any adjustment to P husband's share of any item of credit of a partnership in which P husband was a partner.
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Ps seek summary judgment and R seeks partial summary judgment. The issue for determination is whether the language of a waiver of the statute of limitations encompasses an increase in the tax under sec. 47, I.R.C. 1954. Ps waived the statutory period of limitation for any adjustment to P husband's share of any item of credit of a partnership in which P husband was a partner. The language of the waiver is identical, in part, to sec. 702(a)(7). Held, the language of the waiver and sec. 702(a)(7) encompasses the investment credit authorized by sec. 38. Held, further, an adjustment to a credit…
1Opinion of the Court
OPINION
HAMBLEN, Judge:
This case is before the Court on petitioners’ motion for summary judgement filed on April 15, 1985, pursuant to Rule 121,1 and respondent’s motion for partial summary judgment, filed on April 23, 1985, pursuant to Rule 121. In their respective motions, each party claims that summary disposition is appropriate on the issue of the efficacy of a Form 872-A, Special Consent to Extend the Time to Assess Tax.
Respondent issued a notice of deficiency to petitioners on February 23, 1984. In this notice, respondent determined a deficiency in petitioners’ joint Federal income tax…
2Cases cited9 opinions
- Adickes v. S. H. Kress & Co.Supreme Court of the United States · 1970
- Espinoza v. CommissionerUnited States Tax Court · 1982
- Shiosaki v. CommissionerUnited States Tax Court · 1974
- Hoeme v. CommissionerUnited States Tax Court · 1974
- Graf v. CommissionerUnited States Tax Court · 1983
4 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Maxwell v. CommissionerUnited States Tax Court · 1986
- Phillips v. CommissionerUnited States Tax Court · 1996
- Ballard v. CommissionerUnited States Tax Court · 1987
- Durrett v. CommissionerUnited States Tax Court · 1994
- Siller Bros. v. CommissionerUnited States Tax Court · 1987
15 more not listed; retrieve them via the Exa API.