Flato v. Commissioner
United States Tax Court
Held: 1. The judgment in Franklin Flato, 14 T.C. 1241, affd. 195 Fed. (2d) 580, sustaining the taxability of trust income to the beneficiaries under section 22(a), I.R.C. (1939), and not to the trusts, constitutes a bar to the present proceedings involving the same trusts under the principle of collateral estoppel.
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Held: 1. The judgment in Franklin Flato, 14 T.C. 1241, affd. 195 Fed. (2d) 580, sustaining the taxability of trust income to the beneficiaries under section 22(a), I.R.C. (1939), and not to the trusts, constitutes a bar to the present proceedings involving the same trusts under the principle of collateral estoppel. If we are in error in so holding, on the facts in this record we hold the income of the two trusts established for the benefit of Robert H. Flato is taxable to him under section 22(a), I.R.C. (1939), in the taxable years 1945 and 1946. Franklin Flato, supra, followed. 2. The gain…
1Opinion of the Court
Frederick W. Flato et al. 1 v. Commissioner.
Flato v. Commissioner
Docket Nos. 38891-38901.
United States Tax Court
T.C. Memo 1955-216; 1955 Tax Ct. Memo LEXIS 121; 14 T.C.M. (CCH) 853; T.C.M. (RIA) 55216;
July 29, 1955
Held: 1. The judgment in Franklin Flato, 14 T.C. 1241, affd. 195 Fed. (2d) 580, sustaining the taxability of trust income to the beneficiaries under section 22(a), I.R.C. (1939), and not to the trusts, constitutes a bar to the present proceedings involving the same trusts under the principle of collateral estoppel. If we are in error in so holding, on the facts in this record we…
2Cases cited3 opinions
- Commissioner v. SunnenSupreme Court of the United States · 1948
- Bridgeport Hydraulic Co. v. CommissionerUnited States Tax Court · 1954
- Flato v. CommissionerUnited States Tax Court · 1950