Carroro v. Commissioner
United States Board of Tax Appeals
1. RETURNS - FRAUDULENT. - The personal income tax returns of Joseph Carroro for the years 1920, 1921, and 1922 fraudulently understated his income with intent to evade tax.
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1. RETURNS - FRAUDULENT. - The personal income tax returns of Joseph Carroro for the years 1920, 1921, and 1922 fraudulently understated his income with intent to evade tax. Held, the taxpayer is subject to the 50 percent penalty under section 250(b) of the Revenue Acts of 1918 and 1921. 2. Id. - EVIDENCE OF UNDERSTATEMENT - STATEMENTS OF PETITIONER ON RETURN. - In carrying the burden of proof as to the issue of fraudulent understatement by petitioner of his income with intent to evade tax, the respondent may rely upon the statement of petitioner in his return as to income from a specified…
1Opinion of the Court
OPINION.
Sea well:
The petitioners, Joseph Carroro, sometimes called Johnny Dundee, and Lucile Carroro, were at all times material herein, man and wife, living together in or near New York City. He was a professional boxer and prize fighter, and was the owner, or part owner, of several racing horses which he raced for prizes or purses during some of the years involved, as hereinafter noted. *647She was an habitual gambler at horse races, betting money on races of her husband’s horses and other horses, and she was also a speculator and investor in securities.
The Commissioner having determined…
2Cases cited2 opinions
- Gano v. CommissionerUnited States Board of Tax Appeals · 1930
- Tanner Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1930
3Cited by21 opinions
- Federbush v. CommissionerUnited States Tax Court · 1960
- Hennen v. CommissionerUnited States Tax Court · 1961
- Lane v. CommissionerUnited States Tax Court · 1956
- Januschke v. CommissionerUnited States Tax Court · 1967
- O'Connor v. CommissionerUnited States Tax Court · 1967
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